Eggert Claessen

Eggert Claessen is a co-founder of Frumtak Ventures, one of Iceland's leading venture capital firms, which he established in 2009 alongside Svana Gunnarsdóttir. He currently holds the title of Partner Emeritus (General Partner Emeritus), continuing to advise the firm and sit on portfolio boards while the day-to-day investing is led by the current partnership. Frumtak has raised four funds over roughly 15 years and backs Icelandic companies with international potential.

Before venture capital, Eggert was a serial technology entrepreneur with deep operating experience in Iceland's IT sector spanning roughly 1981 to 2006. He was co-founder and CEO of Tölvumiðlun (1990–2006), served as CFO of eMR (2000–2002), and was chairman of GoPro (from 2003). This operator background — building and running software companies rather than only financing them — informs Frumtak's "high-conviction, high-involvement" approach to working with founders.

Academically, Eggert holds a doctorate in Knowledge Management from Brunel University / Henley Management College in the UK, where his research focused on managing intangible assets to improve performance in small IT companies. He has been an active promoter of the Icelandic technology industry, serving on numerous boards and committees, including a term as chairman of the association of Icelandic IT companies, and has participated in cross-border projects on realizing intangible value in technology firms.

• Invests in early-stage (seed to Series A) Icelandic startups with global ambitions — the firm's tagline is "investing in local innovation with global potential."
• Typical initial checks of €1–3 million, with roughly half of a fund reserved for follow-on investment; Frumtak IV plans ~10–15 initial investments.
• Sector-agnostic but SaaS-heavy: historically most investments have been in B2B SaaS at seed/Series A; newer theses target ocean tech, logistics, healthcare, climate/energy, travel, and gender equality.
• Prioritizes traction and international scalability over polish — the firm explicitly states founders need not bring a "perfect pitch deck or even a prototype" to a first conversation.
• Style is "high-conviction, high-involvement" and consensus-driven — expect an active, hands-on investor who takes board seats and leans on operating experience.