Icelandic venture capital funds

NSA Ventures, officially known as the New Business Venture Fund (Nýsköpunarsjóður atvinnulífsins), is the primary state-owned venture capital firm in Iceland. Established in 1998, it has been a pivotal player in the Icelandic innovation ecosystem, with a significant portion of its investments directed toward the life sciences and biotechnology sectors. The fund has provided early-stage capital to many of Iceland's most successful healthcare companies, including Kerecis, deCODE genetics, and Oculis. In 2025, NSA Ventures was merged into Kría, a consolidated state investment fund that continues to manage a diverse portfolio of technology and healthcare startups. The entity operates as an evergreen fund, reinvesting proceeds from successful exits to foster new entrepreneurial ventures in the Nordic region.