Bidding war for 3i's venture capital fund

Reports suggest that private equity groups Coller Capital and HarbourVest Partners are considering bids for 3i's £400m venture capital fund. Some of it has just been sold: earlier this month, Germany's Cipio Partners acquired stakes in 10 IT, internet and cleantech companies from 3i.

Adviser Campbell Lutyens was reportedly hired by 3i to sell the fund's portfolio in an effort to help with the group's debt burden, thought to be around £1.8bn.

3i's Germany office has announced the promotions of Ulf Von Haacke and Peter Wirtz to managing directors.

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