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Schroders plc, others start financial services Net start-up venture

Published on .

London--Institutional fund management giant Schroders plc, 2Bridge Inc., San Francisco and Oliver Wyman & Co., New York, have started a $40 million venture fund to invest in financial services Internet start-ups. The venture, Internet Financial Partners, London, provides financial start-ups with office space and marketing assistance, in addition to cash. International Financial Partners has quietly invested in four companies since last November, but will aggressively step up business this year--the venture plans to fund more than 12 start-ups this year, and 20 in 2001.
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