Brunnur Ventures Launches US$65m Next Fund | Small business & Finance

REYKJAVIK, Iceland–(Company WIRE)–Mar 16, 2021–

Brunnur Ventures GP ( www.brunnurventures.com ) is happy to announce the start of Brunnur II, its second undertaking fund of US$65 million (ISK 8.3 billion). The new fund’s Confined Companions include 10 of Iceland’s main pension funds and Landsbanki.

Brunnur Ventures Partner Workforce (Picture: Business Wire)

Brunnur II is a guide trader concentrating on seed and early-phase investments in Iceland with a concentrate on begin-up businesses with incredible entrepreneurial expertise, ground breaking, significant-expansion and scalable company styles. The fund’s sector aim is primarily within just program/IT, gaming, Marketplace 4., biotech, cleantech, marine tech, agrifoodtech and other significant technological know-how sectors that have a competitive edge as a result of patentable technological know-how or proprietary know-how.

“We are delighted to be announcing the close of Brunnur II and our enlarged crew which brings with each other a authentic concentration of experience in looking for out, collaborating in and driving the development of the most promising and scalable begin-ups,” commented Arni Blondal, Taking care of Husband or wife of Brunnur Ventures GP. “We are continuing a system of catalyzing the progress and internationalization of our portfolio businesses as a result of leveraging our fingers-on commence-up encounter and community. I am also delighted to welcome our two new Companions, Margret O. Asgeirsdóttir and Kjartan Olafsson, who deliver a wealth of additional experience to even more tutorial the leadership of our portfolio.”

Brunnur Ventures GP debut fund, Brunnur I, a 2015 classic, has invested in a vary of exciting corporations that involve Oculis, DT Machines, Grid, Laki Electric power, Nanitor, IMS and Avo Software program. Brunnur Ventures’ co-buyers include things like Earlybird, NEA, Chrysalix, Blue Garden, GGV Cash, Y Combinator, Novartis Undertaking Fund and other folks.

Brunnur II intends to commit in a portfolio of up to 20 providers with initial investments ranging from US$ 1-3 million, with money pre-allocated for stick to on investments.

Brunnur Ventures is undertaking money firm based in Iceland targeted on seed and early-phase investments, emphasizing innovation and development, mixed with scalable enterprise models and incredible entrepreneurial talent.

Brunnur Ventures at the moment manages two resources, Brunnur I and Brunnur II, with fund procedure and administration provided by Landsbref ( www.landsbref.is ), a fund management corporation certified by the Icelandic Financial Supervisory Authority.

Controlling Husband or wife, Brunnur Ventures GP

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Resource: Brunnur Ventures GP

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PUB: 03/16/2021 08:09 AM/DISC: 03/16/2021 08:09 AM

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