Crowberry Capital
Venture capitalReykjavík · Pre-Seed–Series A · 12 people tracked
Find your way into Crowberry Capital
1,605 people in our graph share verified history with the Crowberry Capital team — schools, employers, funds. One of them is your warm intro.
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 · 12 people
from the firm's website & public directories
What they invest in
from 18 of 24 portfolio companiesAI & Machine Learning ×7Enterprise Software ×5SaaS ×5Fintech ×4Gaming ×4Cloud Computing ×3Cleantech ×2Climate Tech ×2
HQs:Iceland×4European Union×2Finland×2United States×2Switzerland×1Denmark×1
Investments · 24 tracked
founders shown can be your intro pathBy year:2025 · 12024 · 22023 · 22022 · 32021 · 12020 · 110 dated
Ellie is a data modeling platform that lets business domain experts and data teams create conceptual ER diagrams (a semantic layer) using text, diagrams, or a GenAI chatbot, and convert them into logical and physical data models and SQL databases.
AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaS
Co-investorsNewionBlumberg CapitalRustic Canyon PartnersTrinity Ventures
Social First is a Finnish game studio developing a cross-platform social MMO intended to function as a social platform for players.
ConsumerGamingSocialHelsinki, FI
Co-investorsPlay Ventures
1939 Games develops a digital collectible card game set in a WWII military theme.
Gaming
Gudmundur KristjanssonIvar Kristjanssonin
Co-investorsCrit VenturesSisu Game VenturesKorea Investment PartnersSeoul Investment Partners
50skills is an HR automation platform that uses AI to automate time-consuming workflows such as onboarding, offboarding, recruitment, and benefits administration.
AI & Machine LearningHR TechSaaSReykjavik, IS
Co-investorsFrumtak Ventures
Augmented Hearing develops AI-powered speech enhancement technology that isolates and clarifies voice signals in noisy environments using deep learning and psychoacoustics.
AI & Machine LearningDeep TechDefense TechGovTechHardwareMedical Devices
MetteMartin
Co-investorsHeartfelt Capital
The European Investment Fund is a multilateral development bank with AAA credit ratings that provides capital and financing to foster economic impact through its strong balance sheet and governance.
CleantechClimate TechEnergyEnterprise SoftwareFintechImpact & Social GoodLuxembourg, EU
Co-investorsEIFAlpine Space VenturesBOMInvivo Capital PartnersKhanuM80 Partners+3 more
Garden is a DevOps automation tool that enables teams to build and test Kubernetes applications in production-like environments for development, testing, and CI, with smart caching to accelerate builds and test runs.
Cloud ComputingDeveloper Tools
Co-investorsbyFoundersFly Ventures468 CapitalCraft VenturesDigital GarageMastercard Start Path+2 more
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 provides a proprietary clinical AI platform serving hospitals, clinicians, and patients across Southeast Asia, with particular strength in Malaysia.
AI & Machine LearningDigital HealthEnterprise SoftwareHealthtechLondon, GB
Dr. Ezam Mat Ali(Founder & CEO)inLilyana Abdul Latiff(Co-Founder and Chief Technology Officer)Dr. Saifol Bahri Shamlan(Co-Founder and Chief Financial Officer)Hemy Sorfina Halim(Co-Founder and Chief Marketing Officer)
Co-investorsAlliance VCSondo Capital
monday.com is a work operating system and AI platform that helps teams and organizations build custom applications, manage projects, and execute workflows across departments.
AI & Machine LearningEnterprise SoftwareFuture of WorkSaaSNew York, US
Roy Mann(Co-founder)inEran Zinman(Co-founder)in
Co-investorsDigital HorizonEntrée CapitalF2 Venture CapitalFounders Circle CapitalSapphire VenturesStripes+1 more
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)in
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 HorowitzRiot GamesWEEKEND
Monerium creates infrastructure for onchain fintech by issuing, ramping, orchestrating, and exchanging stablecoins through whitelabel services, reliance partners, and direct offerings to consumers and businesses.
Crypto & Web3Fintech
Gísli Kristjánsson(Chief Executive Officer)inJón Helgi Egilsson(Head of Strategic Partnerships)inSveinn Valfells(Chair)inHjörtur Hjartarson(Chief Operating Officer)inÁrni Guðjónsson(Chief Product Officer)Margus Kerma(Chief Technology Officer)in
Co-investorsBootNodeConsenSys MeshConsenSys
Porcelain Fortress is a game studio that develops simple, polished games for the PC market, drawing inspiration from classic arcade and console games.
GamingReykjavik, IS
Co-investorsBehold VenturesBrunnur Ventures GP
Quanscient provides a cloud-based multiphysics simulation platform designed for engineers in R&D to accelerate complex engineering simulations with reduced runtimes and improved design exploration across medical devices, consumer electronics, automotive, and space applications.
Advanced ManufacturingAI & Machine LearningCloud ComputingDeep TechQuantum ComputingSaaSTampere, FI
Juha Riippi(CEO, Co-Founder)Dr. Alexandre Halbach(CTO, Co-Founder)Asser Lähdemäki(Chief Product Officer, Co-Founder)inDr. Valtteri Lahtinen(Chief Scientist, Co-Founder)Dr. Tweedie(UK Director, Co-Founder)
Co-investorsQAI Ventures55 NorthFirst Fellow PartnersMaki.vc
Rocky Road is building a social gaming network that connects gamers.
GamingSocial
Co-investorsSisu Game VenturesLuminar VenturesSisu Ventures
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)
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
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Garden TechnologiesDreamdataJoinemblaPrivacy Policy
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 companies
Garden · wholefoodsmarketfoundation.org · Sep 2, 2026
SNERPA Power · finsmes.com · Aug 25, 2026
Ellie · alternativecreditinvestor.com · Aug 18, 2026
Terramate · europeanstack.com · Aug 2, 2026
Quanscient · itbrief.co.uk · May 29, 2026
Lucinity · trysignalbase.com · Mar 24, 2026
Hemi Health · arcticstartup.com · Mar 2, 2026
Frequently asked questions
- How many investments has Crowberry Capital made?
- Crowberry Capital has 24 tracked investments, including 3 dated in the last 24 months.
- 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.
- Does Crowberry Capital lead rounds?
- Crowberry Capital has led 7 of the 10 rounds where its role is on record.
- Who does Crowberry Capital co-invest with?
- Crowberry Capital most often shares deals with Crit Ventures, Fly Ventures, Founders Circle Capital, among 25 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
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.
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.
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.
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.
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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