The state-owned fund was founded in 1998 and invests in seed, early, later, and growth-stage companies in the technology sector. It aims to strengthen and develop the Icelandic venture capital market while promoting startups and business to encourage economic growth. The fund takes an active role in the development and growth of the companies it invests in, with a focus on those that offer substantial added value, profitability, and good returns. The earnings of the fund are reinvested in further development, investment in promising firms, and research into their operating environment.