Frumtak GP

Frumtak GP is a venture capital firm based in Reykjavik, Iceland, established in 2008. The firm specializes in post-seed and early-stage investments, focusing primarily on technology and innovative companies with growth potential. It typically invests between ISK50 million and ISK500 million in its portfolio companies, aiming to hold these investments for three to five years. While Frumtak GP primarily targets investments within Iceland, it is open to opportunities abroad to enhance the success of its portfolio. The firm actively participates on the boards of its investee companies, promoting collaboration with stakeholders in both the local and international start-up and innovation communities. Frumtak GP operates through its funds, including Frumtak I and Frumtak II, the latter of which emphasizes foreign market growth for innovative enterprises.

Eggert Claessen

Partner

Svana Gunnarsdottir

Managing Partner

Ásthildur Otharsdóttir

Partner

Rakel Sigurdardottir

CFO

Past deals in Iceland

Arctic Trucks

Venture Round in 2015
Arctic Trucks was established in Iceland in 1990 and specialises in the re-engineering and conversion of four-wheel drive vehicles for extreme conditions. Over the years, Arctic Trucks have built an unparalleled level of expertise in developing vehicles to deliver handling, safety and reliability improvements both on and off road. Their development engineers have accompanied many of these expeditions so they can understand, first hand, the challenges the vehicles they design will need to conquer. This unique insight and experience means they have been able to tame environments their competitors simply do not account for. Their cars have driven to both poles. They visited the magnetic North Pole with BBC Top Gear, and in the Antarctic a fleet of four and six wheel-drive vehicles are used by scientists to support their work, all under the most extreme conditions their planet has to offer. Arctic Trucks vehicles also set the record for the fastest journey to the South Pole in 2010. However, you don't need to be a polar explorer to own an Arctic Truck, their vehicles are just as at home in the wilds of the countryside or in the city.