Icelandic seafood group to launch venture fund for startups | Intrafish
Enriched Nordic · Found: 2026-03-11 08:06
An Icelandic seafood group is preparing to launch a venture capital fund this year with the aim of raising $30-40 million (€29-39 million) ...
Funding Details
- Funder
- Blue Nova Ventures / Iceland Ocean Cluster
- Funding Goal
- Venture capital investment in early-stage blue economy startups focused on ocean technology, marine biotechnology, AI-driven fisheries/aquaculture, and waste reduction technologies.
- Funding Amount
- Fund targets $30-40 million total capitalization; individual investment sizes not disclosed
- How to Apply
- No formal application process publicly documented. As a venture capital fund, startups likely need to pitch or be referred through the Iceland Ocean Cluster network or partner ocean clusters (e.g., Danish Ocean Cluster). Connection to the 70+ member ecosystem may facilitate deal flow.
- Target Region
- Iceland, Nordics, Global (via partner ocean clusters)
- Contact
- Danish Ocean Cluster (partner): info@danishoceancluster.com, Willemoesvej 2, 9850 Hirtshals, Denmark. Blue Nova Ventures team: Thor Sigfusson (founder), Bala Kamallakharan, Kristinn Þór Sigurðsson (GP), Alexandra Leeper.
- Last Checked
- 2026-03-12 05:31
Application Checklist
Eligibility
Project Scope
Constraints
Summary
Blue Nova Ventures is a venture capital fund launched in January 2025 by the Iceland Ocean Cluster, an innovation hub comprising over 70 companies, entrepreneurs, and scientists in the maritime sector based in Reykjavik, Iceland. The fund aims to raise $30-40 million (€29-39 million) to invest in early-stage startups at the intersection of technology, resource utilization, and the ocean economy. The fund's investment focus areas include AI-driven fisheries and aquaculture optimization, marine biotechnology and by-product conversion, ocean technology, maritime innovation, sustainable fisheries and aquaculture, and waste reduction technologies. The founding team includes Thor Sigfusson (founder and chairman of Iceland Ocean Cluster), Bala Kamallakharan, Kristinn Þór Sigurðsson (General Partner), and Alexandra Leeper. Blue Nova Ventures has expanded its network internationally, partnering with the Danish Ocean Cluster in September 2025 to strengthen cross-border collaboration and connect blue economy startups with international investors. The fund aims to bridge the financing gap for startups in the blue economy by providing capital, scaling support, and access to partners. This is a venture capital investment vehicle targeting for-profit startups, not a grant program for non-profit organizations.
Historical Context
Blue Nova Ventures was launched in January 2025. The Iceland Ocean Cluster has grown over the past decade to include 70+ member companies. The Danish Ocean Cluster joined the Blue Nova Ventures network in September 2025. The fund was still in fundraising phase as of early 2025.
Sources
- https://www.intrafish.com/finance/icelandic-seafood-group-to-launch-venture-fund-for-startups/2-1-1763722
- https://weareaquaculture.com/news/aquaculture/iceland-ocean-cluster-launches-new-blue-venture-fund
- https://danishoceancluster.com/en/aktivitet/danish-ocean-cluster-joins-forces-with-blue-nova-ventures/
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