Corporate venturing virtually disappeared off investors' radar in 2001, according to the European Private Equity and Venture Capital Association (EVCA).

EVCA said the amount of independent capital raised by these funds fell from €1.7bn ($1.7m) in 2000 to €180m last year. Corporates themselves led the charge away from the area. They had put €750m in other companies' funds in 2000. In 2001, this figure fell to just €20m. This left banks as the leading investors in corporate venturing funds last year, followed by fund-of-funds managers. Pension funds and insurance companies put in less than €40m between them.