Bjork turns venture capitalist

Bjork has partnered with a Reykjavik-based venture capital firm to establish a fund that will invest in socially and environmentally responsible companies that will help restore Iceland's battered economy.

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The BJORK venture fund will be run by Audur Capital, which has put down the initial investment of 100 million Iceland kronur ($826,000). It is seeking investors to participate in the fund with investments to close by March 2009.

"The fund will invest in sustainable businesses that create value through the country's unique resources, spectacular nature, vibrant culture and green energy," according to Audur Capital's Web site.

It also states that Bjork "has become a spokeswoman for innovation, creative thinking and increased diversity in the Icelandic economy."

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