Morten Lund, an entrepreneur from Copenhagen, Denmark, might just be the real Rock-‘n Roll entrepreneur. Yesterday he was declared personally bankrupt by the Copenhagen Maritime and Commercial Court after losing 10M Krona in an investment into a Danish newspaper, Nyhedsavisen, which went badly wrong.
The free daily newspaper owned by his startup catalyst LundXY- Global Ventures, closed in August 2008 with a reported deficit of approximately $100 million, admittedly generated mostly under the previous ownership.
He told Danish finance news outlet Finans (in Danish): “It’s like superman getting his suit stolen – I’m shaken and don’t really wanna talk about it. I will come back again with full power, i just need to wash my suit.” (Google Translate suggests is a little different).
Lund is founder and managing partner of LundKenner, a venture capital firm. Wikipedia describes 36-year old Lund as a startup ‘ideologist’ and ‘visionary’ who has founded or co-invested in more than 40 high-tech start ups in the last decade, most famously Skype. In May 2008 he sold Danish social networking and mobile backup site ZYB to operator Vodafone Europe for around $49m.