Crowberry Capital, operating in Reykjavik and Copenhagen, has launched Crowberry II: a $90 million seed and early-stage fund aimed at startups in the Nordic region. A second close – bringing in an additional $40 million – is planned for July 2022.
The EIF (European Investment Fund) is the lead LP on the fund, after putting in €20 million from the EU’s “InnovFin Equity” program. This is InnovFin Equity’s first VC fund in Iceland.
Other investors include Icelandic Pension funds, several family offices, and angels including David Helgason, founder of Unity Technologies.
Crowberry II, which claims to be the largest VC fund operating out of Iceland, is headed up by