Brandts Ventures, the quoted Danish venture capital firm, is the latest victim of the internet bust, ending its struggle to keep its portfolio of internet companies afloat by filing for bankruptcy.

The firm was in such dire straits that it had to postpone auditing its accounts, because liquidity problems meant it could not pay its auditors, according to reports in the Danish press. The firm's equity has fallen 97% from Dkr183.1m (€24.6m) in 2000 to Dkr5.3m in 2001. It posted a net loss Dkr188.4m for 2001, following a net loss of Dkr28.8m in 2000.