What Flóki does

Flóki Invest ehf. is a private Icelandic investment company headquartered in Kópavogur (Smáratorgi 3) that operates as the non-pharmaceutical Icelandic investment arm of the Aztiq holding group founded by Róbert Wessman in 2008. Originally established as Aztiq Fjárfestingar ehf., the entity was renamed Flóki Invest ehf. in 2022 as part of a portfolio restructuring that separated international pharmaceutical holdings from Icelandic real estate, hospitality, cultural, and sports assets. It functions as a long-term active investor in Iceland, with a stated emphasis on community benefit and ecosystem development around the biotech sector.

The company operates through a set of wholly-owned subsidiaries and joint ventures. Flóki Fasteignir ehf. owns and manages the residential and commercial rental portfolio — apartments at Efstaleiti, Frakkastíg, Vatnsstíg/Lindargata, Þingholtsstræti 29a, and industrial space at Gylfaflöt — much of which is leased to Alvotech employees relocating to Iceland. Vintage Hotel Reykjavik is a 23-room apartment hotel at Laugavegur 41 operated directly by Flóki Fasteignir. Akkelis ehf., a 50/50 joint venture with Reir ehf., holds a substantial development pipeline including a potential 1,900-apartment project in Vogabyggð and Hlíðarenda-area construction. A-Art manages the art collection and cultural sponsorships (notably works by Erró), while Mjölni operates a mixed-martial-arts and Brazilian Jiu-Jitsu sports club at Öskjuhlíð.

Revenue is generated through rental income from the residential and commercial property portfolio, lodging revenue from the apartment hotel, and (when realized) development returns from Akkelis projects. The core customer base combines enterprise demand from Alvotech and other corporate tenants in the biotech corridor with leisure and short-term travelers at the hotel; the firm communicates with stakeholders via its corporate website, press releases, and direct contact channels. No revenue figures, capital raises, or external funding rounds are publicly disclosed; the firm operates with 11–50 employees under CEO Guðrún Elsa Gunnarsdóttir.

Name

Flóki

Legal name

Flóki Invest ehf.

Website

https://flokiinvest.is

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

11–50 employees

Short description

Flóki Invest ehf. is an Icelandic private investment company and Aztiq holding-group subsidiary that owns and develops residential and commercial real estate, operates the 23-room Vintage Hotel Reykjavik, and invests in cultural and sports ventures, with much of its rental portfolio leased to Alvotech biotech employees.

Ownership category

akta.pro rank

Product category

Real Estate Investment

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Specialty Real Assets / Niche Strategies (Marinas, Student Housing, Self-Storage, Life Science RE) (FSANAEAO)

Keywords

• Real estate investment
• Venture capital
• Property management
• Apartment hotel
• Asset management

Headquarters

HQ city

Kópavogur

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Real Estate Rental Income: Flóki Fasteignir generates rental income from residential and commercial properties, primarily leasing to Alvotech employees and other tenants. Properties include apartments in Efstaleiti, Frakkastíg, Vatnsstíg/Lindargata, and single-family homes.
2. Hotel Operations: Vintage Hotel Reykjavik operates as an apartment hotel offering short-term and medium-term accommodations with fully equipped kitchens, generating revenue from lodging services.
3. Real Estate Development: Joint venture property development projects including Akkelis (residential development in Vogabyggð) and commercial properties, with potential for up to 1,900 apartments.
4. Art and Culture Investments: A-Art subsidiary manages art collection and cultural sponsorships, supporting the company's community and cultural objectives.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Flóki Invest ehf. is a long-term Icelandic investment company that invests in real estate, supports healthcare and pharmaceutical ventures, and backs community, cultural, and arts projects. The company operates through subsidiaries and joint ventures: Flóki Fasteignir (residential and commercial property rentals), Vintage Hotel Reykjavik (an apartment hotel), Akkelis (a 50/50 real estate development joint venture with Reir ehf.), A-Art (art collection and cultural patronage), and Mjölni (martial arts sports club). Revenue is generated primarily through rental income, hotel operations, and real estate development returns.

Product overview

Flóki Invest is a single-entity investment company (formerly Aztiq Fjárfestingar) operating multiple wholly-owned and joint-venture subsidiaries: the core Flóki Invest manages diversified investments; Flóki fasteignir handles real estate holdings and property rentals; Vintage Hotel Reykjavik operates an apartment hotel; Akkelis (50% JV with Reir ehf) develops residential projects; Flóki Art (via A-Art) supports culture and arts; and Mjölnir operates a martial arts sports club. The portfolio spans real estate, hospitality, sports, and cultural sectors in Iceland.

Differentiator

Problem solved

Functional benefit

Products and services

• Flóki Fasteignir Residential and commercial property rental service owned and operated by Flóki Invest. Properties include apartments in Efstaleiti, Frakkastíg, Vatnsstíg/Lindargata, single-family homes on Þingholtsstræti, and industrial space at Gylfaflöt. Primarily leases housing to Alvotech employees relocating to Iceland and other tenants at market rates.
• Vintage Hotel Reykjavik

Named customers1 record

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Reir ehfcoreStrategic or Co-development Partner · 1 January 2022Akkelis ehf is a joint venture equally owned by Flóki Invest and Reir ehf. The partnership focuses on real estate development projects including residential development in Vogabyggð and management of sports facility Mjölnir in Öskjuhlíð.
• A-ArtminorOthersA-Art is a subsidiary company owned by Flóki Invest that manages the company's art collection and cultural sponsorship activities. The company has invested in numerous works by Erró and supports various art initiatives.

Scale indicators3 records

Recent moves8 records

Expansion highlights5 records

Regional players

• Heimstaden AB: European residential real estate investor with a multi-country portfolio. Comparable as a large-scale, long-horizon residential landlord model that benchmarks capital structure and portfolio management practices for Flóki's residential segment.
• Wihlborgs Fastigheter AB: Swedish commercial real estate company concentrated in the Öresund region. Comparable as a Nordic regional landlord pursuing long-term income-producing real estate, but focused on commercial rather than residential/hospitality assets.

Direct peers

• Pandox AB: Swedish hotel property investor and operator owning full-service and select-service hotels across Europe. Comparable as a direct owner-operator of hotel real estate in a Nordic market, providing a benchmark for Vintage Hotel's asset value and strategy.
• Alexandria Real Estate Equities: US life science REIT providing specialized facilities and housing-adjacent infrastructure for biotech tenants. Comparable niche strategy of serving life sciences tenants in gateway markets — the cleanest functional peer for Flóki's Alvotech-aligned housing model.
• Reitir hf: Icelandic REIT (NASDAQ Iceland) focused on commercial and industrial real estate in the greater Reykjavík area. Closest direct Icelandic peer by geography, asset class (income-producing property) and public-market scale, though its mix leans more commercial than Flóki's residential/hospitality blend.
• Eik fasteignafélag ehf: Icelandic residential real estate company with a sizable Reykjavík apartment portfolio. Comparable residential-focused, Iceland-based landlord model that competes for the same tenant pool.
• Reginn hf: Icelandic real estate company (formerly Icelandic Properties) operating residential and commercial assets in Iceland. Directly comparable in domestic asset class mix and long-term buy-and-hold strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Flóki