The US venture company Drape Fischer Jurvetson is to invest in the free Danish journal Nyhedsavisen. According to newspaper owner Morten Lund the free journal has now received enough capital to yield a profit.

“I am quite simply so proud that we have had a world-class financial partner – and have secured enough capital to obtain a profit in Nyhedsavisen.”

Drape Fischer Jurvetson is managing more than USD 5 billion and has invested in Hotmail and Skype among other things. They are looking forward to cooperating with Morten Lund and Nyhedsavisen.

“We are proud of doing business with Morten Lund and as we have been investors in Hotmail and Skype there is nothing new for us in giving free service to challenge the established market,” explains partner and founder Tim Draper according to Børsen Business Daily.

The new capital means that Icelandic Stodir’s owner share will be reduced from 49 to 15 per cent.