FL Group launches Tonvis an investment fund for musicians10.10.2006
FL Group has set up Tonvis, a new investment fund which will finance the entry of Icelandic musicians into foreign markets. The fund is the first of its kind in Iceland and has a starting capital is ISK 200 million. The aim is to be hands-on, monitoring carefully the musicians and their development. The fund will accordingly put its efforts into few but rather large projects, but unlike most funds that invest in culture, it will both share the risks with the artists and also possible profits. Future profit will be used to enlarge the fund and strengthen its operations.
The board of Directors of Tonvis has already decided upon the funds two first projects which include operatenor Gardar Thor Cortes and musician, composer and performer Bardi Johannsson of Bang Gang.
Gardar Thor Cortes started his solo carrier in Iceland as late as last year with one of Iceland’s best selling albums ever and will tour Britain in the autum with Katherine Jenkins, a multiple Brit Award winner.
He will release his first album in Britain on February 5th 2007.
Bardi Johannsson has already made a name for himself and Bang Gang in Europe, especially in France and is currently working on his first album for the US market.
The Managing Director of Tonvis will be Tryggvi Jonsson.
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