Reykjavik's first cheques come from angels and founders. David Helgason and Bala back early here. KLAK and Framvis connect the rest. Here are 12 angel investors funding Reykjavik founders in 2026.
Most Reykjavik founders raise from angels before a fund. They write the first cheque, often before any revenue.
Many are founders who exited and now reinvest back. Unity, CCP and Opera founders all angel-invest here.
You will pitch ten or more angels before one says yes. Ellty keeps your deck behind one link you can track.
Most want a quick data room before they will commit. Build it once in Ellty and reuse it for every angel.
| Type | Check size | Sector focus | Website | |
|---|---|---|---|---|
| Bala Kamallakharan | Individual angel | $10K-50K | Tech, SaaS, fintech | startupiceland.com |
| Iceland Venture Studio | Venture studio / pre-seed | $25K-200K | Early tech, healthtech | icelandventurestudio.com |
| David Helgason (Unity co-founder) | Individual super-angel | $25K-250K+ | Climate, gaming, deep tech | transitionvc.com |
| Hilmar Veigar Petursson (CCP CEO) | Individual angel | $5K-50K | Gaming, edtech, consumer | ccpgames.com |
| Jon S. von Tetzchner (Opera/Vivaldi) | Individual angel | $25K-100K | Ethical tech, software | innovationhouse.com |
| KLAK - Icelandic Startups | Accelerator (angel on-ramp) | Grants + access | Sector-agnostic | klak.is |
| Crowberry Capital | Micro-VC / seed | EUR 200K-2M | Seed tech, Nordics | crowberrycapital.com |
| Frumtak Ventures | Seed-Series A VC | $1M-3M | Export-driven tech | frumtak.is |
| Brunnur Ventures | Early-stage VC | $1M-3M | Sector-agnostic | brunnurventures.is |
| Eyrir Sprotar | Seed fund | ~EUR 3M | Industrial, tech | eyrir.is |
| Kria (state seed fund) | Public seed fund | Up to ISK 100M w/ match | Tech, life sciences | nyskopun.is |
| Framvis (Iceland VC Association) | Investor network | Network of 120 | All sectors | framvis.is |
Send every angel one private link
Ellty shows which angel opened your deck and read it through.
Start free 14-day trialWhat Reykjavik angels back
A Reykjavik angel backs the founder, then the idea. They bet on grit, speed and a clear global vision.
Most write small and decide fast, often in one call. They rarely lead, but they unlock your first round.
Many are ex-founders who give time, not just money. Expect intros, hard questions and honest feedback.
See our Reykjavik geothermal investors list for energy. Ellty shows which angel opened your deck and where they stopped.
I'm still blown away by Iceland's tech scene. Optise is exactly the kind of startup we love to nurture at Frumtak: a global vision born from local talent.
12 Reykjavik angel investors
1. Bala Kamallakharan
Iceland's best-known angel and a startup connector.
Recent Activity: Got the Order of the Falcon in early 2025
LinkedIn: Bala Kamallakharan on LinkedIn
Sector Focus: Tech, SaaS, fintech
Stage Focus: Seed (angel)
Check Size: $10K-50K
Location: Reykjavik, Iceland
Website: startupiceland.com
2. Iceland Venture Studio
Bala's venture studio writing first pre-seed cheques.
Recent Activity: Backs pre-seed Icelandic tech founders
LinkedIn: Iceland Venture Studio on LinkedIn
Sector Focus: Early tech, healthtech
Stage Focus: Pre-seed, seed
Check Size: $25K-200K
Location: Reykjavik, Iceland
Website: icelandventurestudio.com
3. David Helgason (Unity co-founder)
Unity's co-founder, now an active climate-tech angel.
Recent Activity: Co-founded Transition VC and backs climate tech
LinkedIn: David Helgason on LinkedIn
Sector Focus: Climate, gaming, deep tech
Stage Focus: Seed (angel)
Check Size: $25K-250K+
Location: Reykjavik and global
Website: transitionvc.com
4. Hilmar Veigar Petursson (CCP CEO)
The CCP Games CEO who angels in gaming and edtech.
Recent Activity: Angel-invested in edtech startup LearnCove
LinkedIn: Hilmar Veigar Petursson on LinkedIn
Sector Focus: Gaming, edtech, consumer
Stage Focus: Seed (angel)
Check Size: $5K-50K
Location: Reykjavik, Iceland
Website: ccpgames.com
5. Jon S. von Tetzchner (Opera/Vivaldi)
Opera and Vivaldi's founder, an active Iceland angel.
Recent Activity: Runs Innovation House and backs ethical tech
LinkedIn: Innovation House on LinkedIn
Sector Focus: Ethical tech, software
Stage Focus: Seed (angel)
Check Size: $25K-100K
Location: Iceland and Norway
Website: innovationhouse.com
6. KLAK - Icelandic Startups
Iceland's main accelerator and an on-ramp to angels.
Recent Activity: Runs Gulleggid and Startup SuperNova events
LinkedIn: KLAK on LinkedIn
Sector Focus: Sector-agnostic
Stage Focus: Accelerator
Check Size: Grants + access
Location: Reykjavik, Iceland
Website: klak.is
Spot the angels reading your deck
Ellty logs every open and page. Follow up with the keen ones.
Start free 14-day trial7. Crowberry Capital
A Reykjavik seed VC that writes the earliest cheques.
Recent Activity: Made its first 2026 investment in Hemi
LinkedIn: Crowberry Capital on LinkedIn
Sector Focus: Seed tech, Nordics
Stage Focus: Pre-seed, seed
Check Size: EUR 200K-2M
Location: Reykjavik, Iceland
Website: crowberrycapital.com
8. Frumtak Ventures
An Icelandic VC backing export-driven tech startups.
Recent Activity: Led Optise's $2.2M pre-seed in 2025
LinkedIn: Frumtak Ventures on LinkedIn
Sector Focus: Export-driven tech
Stage Focus: Seed, Series A
Check Size: $1M-3M
Location: Reykjavik, Iceland
Website: frumtak.is
9. Brunnur Ventures
A Reykjavik VC with a strong early-stage track record.
Recent Activity: Backs early Icelandic high-growth startups
LinkedIn: Brunnur Ventures on LinkedIn
Sector Focus: Sector-agnostic
Stage Focus: Early-stage
Check Size: $1M-3M
Location: Reykjavik, Iceland
Website: brunnurventures.is
10. Eyrir Sprotar
An Icelandic seed fund backing industrial tech bets.
Recent Activity: A seed fund under Eyrir Venture Management
LinkedIn: Eyrir Venture Management on LinkedIn
Sector Focus: Industrial, tech
Stage Focus: Seed
Check Size: ~EUR 3M
Location: Reykjavik, Iceland
Website: eyrir.is
11. Kria (state seed fund)
Iceland's state seed fund that matches private money.
Recent Activity: Formed in 2025 to seed Icelandic startups
LinkedIn: Kria on LinkedIn
Sector Focus: Tech, life sciences
Stage Focus: Seed (matched)
Check Size: Up to ISK 100M w/ match
Location: Reykjavik, Iceland
Website: nyskopun.is
12. Framvis (Iceland VC Association)
Iceland's investor network of angels and VC funds.
Recent Activity: Links around 120 angels and VC investors
LinkedIn: Framvis on LinkedIn
Sector Focus: All sectors
Stage Focus: Network
Check Size: Network of 120
Location: Reykjavik, Iceland
Website: framvis.is
Iceland's tight founder scene
Iceland's startup scene is small and tightly knit. In it, nearly everyone knows everyone else already.
So warm intros are basically the only way in here. A cold email rarely lands a Reykjavik angel cheque.
Ellty is built for startups raising early. Send each angel a link and watch who actually opens it.
Our due diligence questions list shows what they ask. Share answers from one tracked link, not email threads.
From angel cheque to global scale
Iceland is tiny, so its startups go global early. Angels expect that ambition from your first pitch.
Unity, QuizUp and Kerecis all scaled up worldwide. Their founders now back the next wave of startups.
Bring a tight, global pitch deck to meetings. Show a target market many times the size of Iceland.
Capture early interest with a lead capture form. Turn every warm intro into a tracked conversation.
What angels expect in return
An angel cheque is the start, not the finish line. Keep them close, and many will follow on into seed.
Send them short, honest updates every single month. Strong reporting turns angels into real champions.
Store every update in one virtual data room. Track who reads each update and then follow up fast.
Avoid common diligence mistakes early on. Prepared founders win their next round much faster.
How to pitch an angel investor
Open with the problem and why you, right now.
- 1.Open with the problem and why you, right now.Angels back the founder and the timing first.
- 2.Show the smallest real proof your idea works.A live pilot beats a polished forecast deck.
- 3.Show how this grows far beyond Iceland fast.Icelandic angels expect global ambition early.
- 4.Name the cheque and the milestone it buys.Tie the raise to one clear, near-term goal.
- 5.Send one tracked Ellty link to your full deck.See which angel reads it all the way through.
How Ellty helps you land an angel investor in Reykjavik
Your Reykjavik angel list is ready to use. Open a simple data room before the first coffee.
- 1.Upload your deck, metrics and the cap table.Hold every angel file in one secure data room.
- 2.Give each angel their own private tracked link.Set exact view and download rights per person.
- 3.Watch each open and follow up at the right time.Chase the angels who finish the whole deck first.
Reykjavik angel investing questions
- Founders like David Helgason and Bala. Plus networks.
- Often $10k to $50k. Super-angels write more.
- Through KLAK, Framvis and warm founder intros.
- Yes, Kria matches private angel money. Apply early.
- A strong team and global ambition. Proof beats a pitch.
