Newly established Iceland-based private equity firm Is Haf Investments could invest in up to three companies this year in an ambitious drive to consolidate the country's still-fragmented seafood sector, as well as make plays in nearby regions.

The fund, backed by Iceland-based fishing and seafood processing giants Brim and UR Seafood, recently closed an ISK 10 billion (€66 million/$71 million) round, making it Iceland’s first seafood-focused private equity fund.

Brim, which trades publicly on the NASDAQ, is a powerhouse in the country, with €450.9