Brunnur Ventures is strengthening its investment team with three new appointments, following the launch of Brunnur III, a new ISK 7.1 billion (approximately USD 57 million) venture fund. Brunnur also operates the funds Brunnur I and Brunnur II, managing three venture funds with combined assets of more than ISK 20 billion (approximately USD 160 million).

Brunnur's funds invest in startups and growth companies at the idea, incubation, and venture stages, with the goal of supporting strong teams as they build international companies out of Iceland.

Óskar Fannar Vilmundarson, Investment Director

Óskar joined Brunnur as an analyst in 2022. Over his four years with the firm, he has been involved in seven new investments from Brunnur II and around twenty follow-on investments across the Brunnur I and II funds, as well as participating in the establishment of Brunnur III.

Before Brunnur, Óskar worked at the medical-device company Kerecis, first as assistant to the CEO and later as a project manager in research and development. He has extensive experience with intellectual property in innovation, and was among other things responsible for an international patent portfolio with more than 50 registered patents. Óskar holds a B.Sc. in mechanical engineering from the University of Oslo and a diploma in business economics from the University of Tromsø, and is a licensed securities broker.

Einar Þór Gústafsson, Investment Director

Einar joins Brunnur from Gangverk, where he led product development in fintech, traveltech, and healthtech for larger companies in Iceland and the United States. He brings more than twenty years of experience in innovation and the international scaling of startups, having held roles including VP of Product Management at Meniga and Head of IT at Play Airlines, and having co-founded Getlocal, alongside board positions at Símafélagið and other companies. Einar graduated from SAE in New York and is completing an Executive MBA with a focus on digital transformation and innovation.

Pétur Snær Auðunsson, Analyst

Pétur has been appointed Analyst at Brunnur, where he will work on the analysis of investment opportunities and contribute to the funds' projects.

Pétur holds a B.Sc. in financial engineering from Reykjavik University, has completed CFA Level II, and holds a securities brokerage license in Iceland. He brings five years of experience in the financial markets, including risk management at Landsbankinn and Íslandsbanki, as well as corporate advisory at Íslandsbanki. Most recently he served as CFO at the contractor Verkeining ehf.

"Valuable experience and knowledge"

"We are very pleased to strengthen our team with these strong appointments," said Árni Blöndal, co-founder and Investment Director at Brunnur. "Óskar has demonstrated outstanding ability since joining the firm, so it is especially gratifying to see him take the next step within Brunnur as Investment Director. Einar and Pétur also bring valuable experience and knowledge that will serve us well on our journey."

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