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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

Avo, an Icelandic start-up helping teams track and manage analytics governance, increased its revenues tenfold over the last year, and just launched an update to its product – titled Avo for PM’s – on Product Hunt. Last September, Avo announced it raised a $3 million seed round from investors like GGV,

Brunnur Ventures GP is launching its sequel venture fund (“Brunnur II”) of USD 65 million (ISK 8.3 billion) in co-operation with Landsbréf, according to Brunnur’s press release. The fund’s LPs include ten Icelandic pension funds and Landsbanki. This is the second venture fund of Brunnur Ventures.

Marco Andreas Streng, founder and CEO of Genesis Mining, expressed his interest in buying a geothermal power plant in Iceland in an interview with Viðskiptablaðið earlier this week. Streng, who is 32 years old and from Germany, founded Genesis Mining in 2013. A year later, the company started operating in