Artist, Björk has just founded an Investment Fund to help the Iceland Economy. She has made only a small initial investment, ($800K), which I am sure is primarily a statement of good faith. Others will need to follow suit and contribute to her fund. There is nothing in our recent history that shows those in the financial sector are somehow better qualified to identify investments, or manage funds, (thank-you Mr. Madoff). On the other hand, creatives are known for identifying and establishing cultural trends. I would not be surprised if this Fund succeeded, and broke ground, as never before. Congratulations Björk!
Update:
On further reading it appears the initial 800K did not come from Bjork,
and that the fund is hoping for 17 million. It will be interesting to
watch, though I am now unsure what her role actually is.
"It is hoped that the fund will have close to ISK 2
billion (USD 17 million, EUR 12 million) in capital and that companies
will be able to apply for grants from the fund next year. Audur Capital
has already contributed ISK 100 million (USD 867,000, EUR 614,000) to
the fund."
http://www.icelandreview.com/icelandreview/dail…
http://audurcapital.is/english/private-equity/b…
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