Family investment firm · Iceland — Patient capital for the long Nordic horizon.

We invest across sectors and stages.

20+Years investing
8Disclosed holdings
5Portfolio countries
Approach

Here for the long term, not the quick exit.

Our own capital

There is no fund to wind up and no deadline to sell. Our horizon is measured in decades; we stay involved through cycles and let value compound.

Whole or in part

Stakes range from companies wholly owned and controlled by us down to minority positions – we invest as both active and passive partners.

People before sectors

We back founders and management teams across the Nordics and beyond – and, unbound by a narrow mandate, invest wherever we see long-term relevance.

Portfolio

A few we’re proud to back.

Eight disclosed holdings, listed by year of investment.
Select a company to read more.

Invested in

Packaging · Finland

Adara makes corrugated packaging for retail and in-shop advertising. Since 2011 it has invested in advanced machinery, digital systems and energy-efficient technology, and offers custom design and fast delivery.

Visit adara.fi (opens in a new tab)
Business
Corrugated packaging
Founded
1933
Invested in

Greenhouse farming · East Iceland

Based in East Iceland, Jurt grows tree saplings and premium fresh wasabi in advanced greenhouses powered by renewable hydroelectricity and pure Icelandic water. Its authentic Wasabia japonica reaches top European restaurants within 48 hours of harvest. Since our 2016 investment, Jurt has scaled around purity, freshness and sustainability.

Visit nordicwasabi.com (opens in a new tab)
Business
Wasabi & tree saplings
Invested in

Modular structures · Norway

Hallgruppen provides modular tent halls and temporary structures for storage, events and industry worldwide. Its halls are quick to deploy and can be customised, serving military, humanitarian, agricultural, logistics and sports customers.

Visit hallgruppen.com (opens in a new tab)
Business
Tent halls & temporary structures
Invested in

Indoor farming · Iceland & Sweden

VAXA grows pesticide-free leafy greens in indoor farms powered by renewable energy, with a short supply chain that keeps them fresh for longer. Since 2020 its produce has reached fast-food chains, Michelin-starred restaurants and five-star hotels.

Visit vaxa.co (opens in a new tab)
Business
Leafy greens
Invested in

Music technology · Iceland

Overtune’s mobile app lets anyone create, record and share music, no expertise required. In 2022 it raised a $2m seed round from investors including Charles Huang (Guitar Hero) and Whynow, and it has partnered with Iceland’s Eurovision competition.

Visit overtune.com (opens in a new tab)
Business
Music-making app
Founded
2020
Invested in

Digital wallets · United Kingdom

PassEntry lets businesses create, deliver and manage Apple and Google Wallet passes for ticketing, membership, loyalty and access control, with no app required. Its open API and dashboard handle real-time updates, push and location-based notifications, and analytics.

Visit passentry.com (opens in a new tab)
Business
Wallet passes
Invested in

Supply-chain technology · Iceland

Controlant protects temperature-sensitive medicines from factory to patient, pairing reusable IoT devices with cloud analytics and 24/7 monitoring. A key partner in distributing COVID-19 vaccines worldwide, it serves global pharmaceutical companies and aims to cut cold-chain waste to below 1%.

Visit controlant.com (opens in a new tab)
Business
Cold-chain monitoring
Founded
2007
Invested in

Travel & tourism · Iceland

Founded in 2012 by three Icelandic families, NICEtravel is a Reykjavík-based operator of small-group day and multi-day tours across Iceland, with at most 19 guests per departure. It is known for a personal touch, a modern fleet and a no-cancellation promise, and has won a Travelers’ Choice award.

Visit nicetravel.is (opens in a new tab)
Business
Small-group tours
Founded
2012
Realised

Pipe rehabilitation · Finland

SPP rehabilitates sewer and water pipes without excavation for residential, industrial and municipal clients across Finland. Its proprietary pipe-lining methods mean less disruption, lower cost and longer-lasting pipes. We supported its growth until our exit in Q1 2026.

Visit sppoy.com (opens in a new tab)
Business
Trenchless pipe lining
Founded
1988
Exited
Q1 2026
Footprint

Home waters, and far beyond.

Our companies are rooted in the Nordic region and serve customers worldwide.

  • Iceland
  • Finland
  • Sweden
  • Norway
  • United Kingdom
Map of disclosed holdings: Reykjavík and East Iceland, Norway, Sweden, Finland and LondonREYKJAVÍKEAST ICELANDNORWAYSWEDENFINLANDLONDON
People

The people behind B Capital.

Contact

We welcome enquiries about investment opportunities and collaborations.