SA Framtak raises ISK 4bn fund

The fund was co-founded by Landsbréf, the investment division of Icelandic bank Landsbankinn, alongside SA Framtak.

SA Framtak was set up by Árni Blöndal, a former corporate finance banker at Landsbanki, Askar Capital and Moneta; as well as Icelandic entrepreneur Sigurður Arnljótsson, who was co-founder and CEO of EVE-online developer, CCP.

The fund is one of three Icelandic venture funds raised in February, alongside Frumtak II and Eyrir Sprotar.

Investors
Backers of Brunnur include seven Icelandic pension funds, Landsbankinn and a number of private investors.

Investments
The ISK 4bn vehicle will invest in Icelandic startups, with no sector-specific focus.

People
Sigurður Arnljótsson and Árni Blöndal are co-founders of SA Frumtak.

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• Topics
• Nordics
• Venture
• Fundraising
• Iceland