Bjork Invests in Iceland
As Economy Collapses, She Helps Start Fund for Green Energy Investment
- As her homeland’s economy tanks, the entertainer Bjork is joining Audur Capital of Reykjavík in investing 100 million Icelandic kroner for sustainable businesses in Iceland.
- The fund is being named for the singer and could reach 2.0 billion kroner in the first quarter of 2009.
- “We believe there are some interesting investment opportunities related to our nature and green energy,” Audur’s chief executive, Kristin Petursdottir, told Forbes.com. “We need to pursue these investments even in the current crisis because that’s really our future and we need to do things differently than how we have done in the past.”
- Icelandic banks collapsed — and two are now being run by women — amid the credit crisis with debts approximately six times as large as the country’s GDP.
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