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article imageIcelandic Music Star Bjork Starts Venture Capital Fund

By David Silverberg     Dec 24, 2008 in Entertainment
Bjork is known for selling chart-topping albums and outlandish fashion, but now she can add "venture capitalist" to her resume. The singer helped start a venture fund for Icelandic companies concentrating on green technology.
When Iceland announced it was on the brink of financial collapse in September, the world spit out their collective drink. Iceland? Bankrupt? The shocking news hit Europe hard: Iceland's krona fell 40 per cent, and its government pleaded for help from its European friends.
But Iceland shouldn't look too far for a generous donor. The country's biggest entertainment export, Bjork, has decided to start a venture capital fund assisting early-stage companies focusing on green technologies. Bjork partnered with Audur Capital, a venture capital firm in Reykjavik, by injecting 100 million Icelandic kronur (about $816,330) into this fund unimaginatively titled Bjork.
According to Audur Capital's website, "Bjork invests in companies that create value through the uniqueness of Iceland’s nature and culture."
The firm called Björk a "spokeswoman for innovation, creative thinking and increased diversity in the Icelandic economy."
Bjork is no stranger to diving outside the confines of normalcy. Her music is deemed eclectic by tactful critics, and incredibly wild by others. She got political recently, releasing the song "Nattura" that implored the Icelandic government to use the country's natural resources responsibly. And her provocative music videos have gained her worldwide attention, even if they don't always make sense.
Will this new venture fund help Iceland when it needs businesses to prosper most? Or is this simply a way for Bjork to earn some cred outside her albums?
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