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.

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