Reality Bites – Skype Legend Morten Lund Bankrupted By Newspaper

Danish entrepreneur and VC Morten Lund might just be the real Rock ‘n Roll star of the startup world. Yesterday he was declared personally bankrupt by a Danish court after losing 10M Krona in an investment into free newspaper Nyhedsavisen went badly wrong. Lund is founder and managing partner of LundKenner a venture capital firm, made famous by its investment in Skype. In May 2008 he sold Danish social networking and mobile backup site ZYB to operator Vodafone Europe for around $49m. At Le Web last year he gave what some regard as one of the most heart-felt, raw speeches about being an entrepreneur ever, captured on the Ustream video.