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Kvika closes first round of financing for venture capital fund Iðunn at $53m

Kvika closes first round of financing for venture capital fund Iðunn at $53m

Kvika Asset Management has completed the financing of a new venture capital fund called Iðunn. The fund raised USD 53 million (ISK 6.7 billion) during its first round of financing. A second round is set to end in September 2021. The fund’s LPs are some of Iceland’s

Fractal 5 raises $3m seed round led by Menlo Ventures

Fractal 5 raises $3m seed round led by Menlo Ventures

Fractal 5, a startup just exiting stealth mode, just announced a $3m seed round led by Silicon Valley based Menlo Ventures with participation from Crowberry Capital. A representative from Menlo Ventures joins the board of directors of Fractal 5 following the transaction. Fractal 5 was founded in 2020 by Guðmundur

Controlant acquires data visualisation tool BI Manager for undisclosed amount

Controlant acquires data visualisation tool BI Manager for undisclosed amount

Icelandic provider of real timedigital supply chain solutions Controlant just announced it had acquired BI Manager and its product business units from Icelandic business intelligence solution provider Intenta. Financial terms will remain undisclosed. As part of the transaction, CTO and co-founder of Intenta Bjarki Elías Kristjánsson joins Controlant as VP

"Reykjavík Science City" hopes to make Reykjavík more attractive to R&D projects and investments

"Reykjavík Science City" hopes to make Reykjavík more attractive to R&D projects and investments

The collaborative project Reykjavík Science City, which aims to build a large hub for researchers and entrepreneurs in central Reykjavík, was formally established today. The project was signed by the mayor of Reykjavík along with the rectors of two of the city’s largest universities, the head of the National

American private equity firm takes majority stake in Creditinfo

American private equity firm takes majority stake in Creditinfo

The private equity firm Levine Leichtman Capital Partners has bought a majority stake in the Icelandic credit information company Creditinfo Group, according to a new press release by the company. Following this new composition of shareholders, the group has appointed Paul Randall, the former Executive Director of the company, as

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Twitter is hiring in Iceland

Twitter is looking for front-end programmers to work out of Iceland, according to Haraldur Thorleifsson, which started working for Twitter out of Iceland recently after Twitter aquired Ueno, a design firm he founded in 2014. Haraldur tweeted about this earlier today, in Icelandic. “Icelandic front-end programmers: Twitter is hiring in

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Kría, an Icelandic Venture Initiative, takes off

Þórdís Kolbrún R. Gylfadóttir, minister of innovation, has appointed the first board of Kría, a new public innovation fund that has been dubbed as the “Icelandic Venture Initiative”. On Thursday the minister also signed regulation which enables Kría to start operating. According to the government’s budget plans, the new