MTI, the UK venture capital firm, has spent £3m (€4.8m) acquiring a minority stake in fsdc, the online legal and financial information provider, despite many investors' disdain for new economy investment.

MTI, which was launched in 1983 to specialise in providing financing and management resources to UK start-up technology companies, has funds under management totalling £157m. MTI's average investment size is around £5m. MTI raised its fourth fund in January 2001 with commitments of £104m.