Icelandic VC Frumtak Ventures has closed its fourth fund at $87m. The VC plans to make 10-15 investments from the fund, with tickets ranging from €1m-€3m. It previously invested mostly in B2B SaaS startups at seed or Series A in Iceland, but is broadening its focus to software, AI, and deeptech in areas such as ocean tech, logistics, healthcare, travel, energy, climate, and gender equality.