John Collis has left Internet Capital Group, the internet holding company which has cut its workforce by two-thirds since November last year, to join b-business partners, a venture capital firm focusing on business-to-business technology.

Internet Capital Group has haemorrhaged staff since it joined the one-per-cent club, those companies whose shares have lost 99% in the technology meltdown. Just two weeks ago it hired Credit Suisse First Boston to look at ways to finance the business.