Iceland's early-stage investor Frumtak Ventures has successfully closed its fourth fund, raising $87 million. The female-led Icelandic venture capital firm plans to make 10-15 investments from the fund, with investment sizes ranging from €1 million to €3 million. This new fund highlights Iceland's resilience in the venture capital market, as the country continues to attract significant investment despite broader industry challenges. There were initial reports that the fund totaled $84 million.