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Jan 05, 2009, 08:28AM

Ideal Bailout

Björk has started her own venture capital firm in order to help Iceland out of its financial dire straights.

Who would bailout the US? Dave Matthews? Kid Rock?:

Björk is working with Audur Capital, a Reykjavik-based investment company founded and managed by women. Audur Capital will oversee the fund's day-to-day dealings, directing an initial investment of 100m Icelandic krona (£575,000) toward sustainable, environmentally-friendly businesses.

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

The company seeks to raise as much as 1.5bn krona before new investors begin to contribute to the fund at the end of March. "We are attracting a lot of interest from Iceland and abroad as increasingly more people are looking for investments whose returns aren't only financial," Halla Tomasdottir, Audur Capital's executive chair, told Bloomberg.

How about the Dallas Cowboys and Washington Redskins. Their money hasn't been going anywhere for a long time.

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