Despite the fact that the global economy's in the crapper, Bjork is taking on a new role as a venture capitalist. The singer is hoping to help revive the economy in her native Iceland, which all but collapsed in 2008.

The singer has teamed with the Reykjavik-based investment company Audur Capital, which was founded and managed by women. The fund was started with an initial investment of 100 million Icelandic krona (approximately $830,000).

The fund will be known as Bjork, and "will invest in sustainable businesses that c reate value through the country's unique resources, spectacular nature, vibrant culture and green energy," according to a description on the Audur Capital website.

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