Knorr Capital Partner, the German venture capital firm, has seen the value of its investment portfolio halve to €90m ($80.7m) since it posted half year results in July 2001, because of further write-downs on portfolio companies due to Knorr's difficulties in exiting investments.

The firm is set to post a €14.5m loss for 2001 because it will write down the value of its investment portfolio by a further €20m in addition to the €10m write-down for the first half of 2001.