Crowberry Capital
Venture capitalReykjavík · Pre-Seed–Series A · 14 people tracked
Investment thesis
Crowberry Capital backs fearless, early-stage founders across the Nordic region, staying true to the seed stage while monitoring tech trends to invest before market validation. The firm operates a company-first philosophy, aiming to build value for all stakeholders and maintaining a strong follow-through approach. It emphasizes inclusivity, viewing the market's gender gap as an untapped investment opportunity, and seeks founders solving real problems with a positive impact. Backed by a second fund of EUR 90M, the firm has invested in more than 25 companies and looks to partner with the next generation of Nordic tech leaders.
Source: firm website, verified Aug 11, 2026.
Team · 14 people
from the firm's website & public directories
What they invest in
from 11 of 15 portfolio companiesFintech ×4AI & Machine Learning ×3Crypto & Web3 ×2Digital Health ×2Gaming ×2Healthtech ×2SaaS ×2Cleantech ×1
HQs:Iceland×2Denmark×1European Union×1Finland×1United States×1
Investments · 15 tracked
founders shown can be your intro path
Social First is a Helsinki-based game studio building cross-platform social multiplayer games aimed at Gen Z, including its Social Sandbox MMO Nexus Station and acquired IP such as Pixel Worlds and Tiny Troopers.
ConsumerGamingSocialHelsinki, FI
Co-investorsPlay Ventures
Berlin-based developer of an open-source development automation platform for Kubernetes and cloud native applications.
Berlin
Sebastiaan Joannes Edmond Peters(Executive Officer, Director)Jon Edvald Vignisson(Executive Officer, Director)
Board seatJenny Ruth Hrafnsdottir· per SEC Form D · $15.9M raise · filed Mar 2022
Co-investorsSorenson Ventures
1939 Games develops WWII-themed gaming experiences, including KARDS, a free-to-play digital collectible card game that combines traditional CCG mechanics with strategy gameplay set in World War II.
Gaming
Co-investorsCrit VenturesSisu Game Ventures
50skills is an HR automation platform that lets teams build custom, AI-assisted workflows for tasks like onboarding and offboarding, leave requests, candidate nurturing, expense reimbursements, and IT ticket routing.
AI & Machine LearningHR TechSaaS
Co-investorsFrumtak Ventures
The European Investment Fund (EIF) provides debt and equity financing to European SMEs and infrastructure projects across their development stages, channelling funding through funds and intermediaries.
FintechImpact & Social Good
Co-investorsAlpine Space VenturesBOMInvivo Capital PartnersKhanuM80 PartnersTesi (Finnish Industry Investment Ltd)+2 more
Based in Copenhagen, Denmark and New York, US.
Hemi is a specialized private clinic for diagnosing and treating headache disorders — including migraine, tension headache, cluster headache, concussion, and whiplash-related symptoms — in both children and adults.
Digital HealthHealthtechWellness & FitnessFrederiksberg, DK
Co-investorsAlliance VCAlliance VentureSondo Capital
HEMI (Health Medical Intelligence) is a proprietary clinical AI engine that connects hospitals, clinicians, and patients within one system of care.
AI & Machine LearningDigital HealthHealthtech
Co-investorsAlliance VCSondo Capital
Lucinity provides AI-powered financial crime prevention and anti-money laundering operations for financial institutions.
AI & Machine LearningEnterprise SoftwareFintechReykjavik, IS
GK(Founder and Executive Chairman)Daniel Pálmason(Chief Executive Officer and Co-Founder)inJohann Haraldsson(Chief Technology Officer and Co-Founder)inGuðmundur Kristjánsson(Executive Chairman and Founder)inGudmundur Kristjansson(Founder)
Co-investorsbyFoundersKarma VenturesKeen Venture Partners
Mainframe provides software development and marketing services for decentralized finance protocols, specializing in parameter optimization to improve capital efficiency, fees, risk management, and incentive structures.
Crypto & Web3FintechSan Francisco, US
Co-investorsTechstarsAndreessen Horowitz
Co-investorsAboriginal Investment NT
SnerpaPower builds technology to digitalize industrial load and connect power-intensive users to fast-changing electricity markets in an intelligent and profitable way.
CleantechClimate TechEnergyReykjavík, IS
Eyrún Linnet(Co-founder)Íris Baldursdóttir(Co-founder)Eyrun Linnet(Founder)
Co-investorsBackingMinds
Terramate provides a platform for managing Infrastructure as Code that lets platform teams package reusable IaC patterns (Bundles) with built-in governance, compliance, and security, while developers and AI agents self-serve infrastructure across environments.
Cloud ComputingDeveloper ToolsSaaS
Co-investorsD11ZFly VenturesNAP
Rows marked “SEC filing” are inferred from directors named on the company's SEC Form D — public regulatory data, not a portfolio list published by the firm.
Portfolio news
latest coverage across their companiesTerramate · europeanstack.com · Aug 2, 2026
Lucinity · trysignalbase.com · Mar 24, 2026
Hemi Health · arcticstartup.com · Mar 2, 2026
Hemi · eu-startups.com · Feb 20, 2026
Frequently asked questions
- How many investments has Crowberry Capital made?
- Crowberry Capital has 10 tracked investments.
- What stage does Crowberry Capital invest at?
- Crowberry Capital invests at the Pre-Seed, Seed, Series A stages.
- What is Crowberry Capital's typical check size?
- Crowberry Capital typically writes checks of $220K – $2.2M.
- What sectors does Crowberry Capital focus on?
- Crowberry Capital focuses on Sector Agnostic.
- Where is Crowberry Capital located?
- Crowberry Capital is headquartered in Reykjavík, IS.
- Who does Crowberry Capital co-invest with?
- Crowberry Capital most often shares deals with Crit Ventures, Fly Ventures, Founders Circle Capital, among 29 tracked co-investors.
Media · Podcasts & interviews
featuring the teamEp#37 Early in Tech funding from Iceland, a Mighty Nordic Innovator Helga Valfells Crowberry Capital
Nordic Fintech Magazine · Helga Valfells
Frumkvöðlaspjall: Helga Valfells hjá Crowberry Capital
Haukur · Helga Valfells
TechChill 2020: VCs Role in Founders' Mental Health by Helga Valfells, Crowberry Capital
TechChill · Helga Valfells
Live with Helga Valfells on Investors & PR | We are going live with Helga Valfells founding partner at Crowberry Capital at 1 PM, we will talk about Investors & PR - prepare questions!✨💪 | By Hack The Crisis Iceland
Helga Valfells · facebook.com
Images
Co-investors · 7
Plug and Play is an innovation platform that connects corporations, governments, startups, investors, and universities to drive innovation.
Foobar is the investment company of Icelandic entrepreneur David Helgason that focuses on supporting startups and investing in technology to accelerate global decarbonization and sustainability efforts.
River VP is a software venture capital firm focusing on B2B software companies that have achieved initial product-market fit. The firm invests in AI and ML applications across future of commerce, including fintech, marketing automation, and logistics, targeting companies in Europe.
Maki.vc is an early-stage venture capital firm focused on deep tech startups in the Nordics, positioning itself as a hands-on partner that supports founders with operational help, market research, hiring, and strategy.
InReach Ventures is an early-stage venture firm using its own AI platform to source and back Europe's most promising founders, investing at MVP stage with signs of user engagement.
Luminar Ventures is a Nordic seed-stage venture capital firm founded by former founders and angel investors, backing pre-seed and seed companies across sectors.
PeakSpan Capital is a growth-stage investment firm focused on partnering with Applied AI B2B software scale-ups, typically from $3M to $50M+ ARR, offering operational support to help companies scale.
Firms observed investing alongside Crowberry Capital, from public investor directories. Shared companies are the overlap with Crowberry Capital's recorded portfolio.
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