New Business Venture Fund

New Business Venture Fund, known locally as Nýsköpunarsjóður atvinnulífsins (NSA), is a cornerstone of the Icelandic innovation ecosystem. Established by the Icelandic Parliament in 1997, it operates as a state-owned, evergreen investment fund. Its primary mandate is to foster economic growth and job creation by investing in innovative and high-growth startup and scale-up companies across various sectors within Iceland, playing a critical role in the nation's economic development.

NSA's investment strategy is broad, covering companies from early-stage seed rounds through to growth-stage financing. They typically target sectors such as technology, biotechnology, and other industries poised for significant innovation and international expansion. The fund plays a crucial role in providing essential capital in a relatively small market, often acting as a lead investor or co-investor alongside private capital, thereby de-risking investments and attracting further private funding.

Since its inception, New Business Venture Fund has been a prolific investor, having supported over 150 Icelandic companies across diverse industries. As of 2022, their total investments in Icelandic innovation exceeded 15 billion Icelandic Krónur, demonstrating their significant and sustained commitment to the local economy. The fund's typical initial investment ranges from 50 million to 300 million Icelandic Krónur, which translates approximately to $350,000 to $2,200,000 USD, depending on the prevailing exchange rate. This flexibility allows them to support a wide spectrum of ventures at different stages of development, from nascent ideas to established growth companies.