NewMedia Spark, the technology venture capitalist, is steeling itself for further uncertainty with an aggressive cut in staff and stern write-downs on its portfolio in its latest six-month figures.
Michael Whitaker, chief executive of NewMedia Spark, said: "In view of the extremely difficult market conditions and a worsening general commercial environment, we wrote down the value of our portfolio, including both realised and unrealised adjustments by a net £37.7m (€60m) during the six-month period to September 30."
