Iceland Venture Studio

More than just capital

We transform ideas into sustainable decentralized businesses

“Here's to the crazy ones. The misfits. The rebels. The troublemakers. The round pegs in the square holes. The ones who see things differently.”

― Rob Siltanen (Apple Think Different Commerical)

We are founders and we build companies with founders. We have practical knowledge on how to work with founders who have the capacity to build great companies: we think it is more than “founder picking”, it is also mentoring and coaching. We take an active role in mentoring and coaching the founding team in technology design and development, strategy, business development, team development and recruiting as well as operations. We have explicit experience taking founders from the idea stage to a profitable exit. The greatest value that we add is in helping founders navigate multiple priorities, exposing them to a network of influencers, sequencing tasks and accelerating the value proposition development of the company.

We have brought together a toolbox for Founders through what we call the Developer’s Ecosystem. The Developer’s Ecosystem is a growing multi-disciplinary team of developers, designers, marketers, analysts, scientists and operators who are passionate about solving hard problems and building companies. Building a company is hard, especially if you are a first-time founder, a scientist or a technologist. We have had the opportunity to work with a number of Founders and Entrepreneurs who have also built a global network of investors, mentors, advisors and operators with the same obsession as ourselves in helping founders step up to the next mega-trend.

Through the Venture Studio, we are adding to our Capital Ecosystem, a group of Venture Capital Companies and Angel Investors who believe in our vision and are willing to put ‘skin in the game’. We sit on the side of the Founder and help them with our network and knowledge to navigate the process of building and scaling their companies.

Bala Kamallakharan

Bala Kamallakharan is the Founder and CEO of Startup Iceland, a grassroots initiative aimed at building a sustainable startup ecosystems in Iceland. He has served as an executive board member for Guide to Iceland and TravelShift. Over the years, Bala has invested, mentored, and served as Chairman of the Board at CLARA (Resonata), the Icelandic Community Analytics company, which was acquired by Jive Software in 2013. Bala has invested in various early stage ventures, including Buuteeq (acquired by, Mattermark, and Genome Compiler (acquired by Twist Biosciences).

Bala Kamallakharan

Freyr Hólm Ketilsson

Freyr established Dattaca labs with his Co-founder, Bala Kamallakharan. He has worked in business development, marketing, and management positions. He previously served as innovation manager at Vodafone IS, where he was responsible for creating new revenue streams, both within the Vodafone group and through new third-party partnerships. Prior to that he founded an eMarketing company and served as CMO for the startup, Remake Electric, where he also served on the company's board. Freyr was part of the founding team of Cleantech Iceland, which now operates under the umbrella of Iceland's Federations of Industry.

Freyr Hólm Ketilsson

We understand exponential growth and power-law distributions. We don’t want the founders to walk alone in that journey. We are founders in our own right; we think founders have the uncanny ability to see the future when many do not and to see value where no one sees value that is a true strength.

Investment thesis

Changing technology landscape driven by customer centricity. Personal data, privacy and security are acknowledged mega-trends that are ready for decentralization.

Contact us today

Grandagarður 16,
101 ReykjavíK,

Need our help?

+354 517 3444hello@icelandventurestudio.comCopy

7 questions

How can we help? Fill out the form and we will get back as soon as possible.

Your information

You can also email us directly at


Message sent.