Icelandic Firm Launches Environmentally Friendly VC Fund

Jan 5 2009 | 1:11pm ET

Iceland’s economy may be in a deep freeze, but that isn’t stopping one local investment firm from launching a new fund. Audur Capital is raising a venture fund that will target early-stage socially and environmentally responsible businesses in Iceland.

The new fund, the BJÖRK -venture fund, was established in conjunction with the world renowned musician of the same name, who is known more for her wild outfits such as the dead-swan getup she wore to the 2001 Oscars, than her investment skills.

The fund is intended for investors seeking investment opportunities in new venture creation and the business development of small companies with the objective of catalyzing the recovery of the Icelandic economy.

According to the firm, BJÖRK invests in companies that create value through the uniqueness of Iceland’s nature and culture. Companies must be sustainable, both in terms of financial returns as well as being socially and environmentally responsible.

BJÖRK-venture fund will be managed by Audur Capital, which was founded by women. It is expected to hold its first close by March.


In Depth

bfinance: Fees Falling Across Asset Classes, Yet Overall Investor Costs Still Climbing

May 16 2017 | 9:53pm ET

Despite unprecedented attention on fees, new research from investment consultancy...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Risk-Based Compliance: Why Oversight Of Outsourcing Is Critical

May 10 2017 | 7:02pm ET

Compliance is notoriously one of the trickiest middle office functions for funds...

 

From the current issue of