Venture Capital: Crowberry Capital’s Trio Of Women Leaders Raises $90M Nordic Fund

https://dailyalts.com/wp-content/uploads/2021/09/Crowberry-founders.jpg

Crowberry is an Icelandic venture fund focused on early stage startups in the Nordic region.

Female-founded, Icelandic venture fund Crowberry Capital announced its raise of a €76 million (US$ 90 million) seed and early-stage fund for investing in startups located in the Nordic region. The fund, Crowberry II, has the distinction of being the largest VC raise ever for Iceland. (Silicon Republic)

Crowberry Capital prefers investing in the emerging tech sector and in the process seeks to promote inclusivity. However, it’s not as if it invests exclusively in women-led startups.

“As our investment record shows, we support companies because they are game changers, irrespective of the gender of their senior team members,” said Hekla Arnardottir, a founding partner. “However, we also benefit, as an all-female team, from a circumspection which means that we can see potential in businesses and sectors which are typically overlooked by others in our space.”

Crowberry II

The European Investment Fund (EIF) is the lead LP of the fund, investing €20 million. Icelandic Pension funds, several family offices and angels, including David Helgason, founder of Unity Technologies, also took part.

The EIF provides financial backing to Europe’s micro, small and medium-sized businesses.

The EIF and gender diversity

“In recent years, the level of venture capital funding in Iceland has steadily grown and Crowberry has emerged as a very credible venture capital manager,” said Alain Godard, the chief executive of the EIF. “The team is well positioned to leverage the clear gender gap identified in venture capital funding which, in itself, represents a strong market opportunity.”

“We value and support diversity, and this investment represents an example of how women can break down barriers and create opportunities for venturing into investments and entrepreneurship roles,” added Godard.

The Crowberry I fund invested $40 million in 2017 in startups in the areas of gaming, SaaS, health tech and fintech.

The founders plan a second, $40 million close of Crowberry II in July 2022.

Related Story: Clearco, Which Offers Equity-Free Capital To Startups, Raises $215M

Image Credit: Crowberry Capital

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/11/hand-plus-btc-plus-india-colors.png
Digital Assets: India To Clamp Down On Cryptocurrencies Via Legislation By Year-End
November 24, 2021     Digital Assets, Latest News, News

The legislative agenda for the upcoming winter session of the Lok Sabha, the lower house of India’s parliament, shows that a bill titled “The Cryptocurrency and Regulation of Official Digital…

https://dailyalts.com/wp-content/uploads/2021/11/Klarna-HQ-in-Stockholm-scaled.jpg
FinTech: Klarna Launches “Pay Now” In The US, Klarna Card Soon To Follow
November 24, 2021     FinTech, News

Klarna, the Stockholm-headquartered fintech powerhouse last valued at $45.6 billion, has brought a “Pay Now” offering to consumers at retailers wherever Klarna is accepted. The company also announced a Klarna…

https://dailyalts.com/wp-content/uploads/2021/11/fb-default.b5dd38d9c4194731a32674e7e89fe658.jpg
Venture Capital: Agtech And Farmer-To-Farmer Platform FBN Raises $300M
November 24, 2021     ESG and Sustainability, News, Venture Capital

Farmers Business Network (FBN) is a farmer-to-farmer network launched in 2014 as an information source and for sharing of agronomic precision data. It now has thousands of farmer-members managing millions…

https://dailyalts.com/wp-content/uploads/2021/11/img13-2400.jpg
Venture Capital: Arc, Which Makes $300K Electric Boats, Snags $30M
November 24, 2021     News, Venture Capital

Arc, a startup led by former SpaceX engineers and developing electric boats, announced its $30 million Series A raise led by Greg Reichow, a former Tesla VP of Production, now…