CHICAGO -- December 7, 2000 -- VENTUREWIRE -- divine interVentures withdrew its $10 million commitment to Skyscraper Ventures, a seed and early-stage venture fund. The publicly traded information technology holding company's president and COO said, "We continue to support high-tech development in the Chicago area, but believe in light of current market conditions we must dedicate our efforts and capital toward maximizing the value of our existing associated companies and to meet our planned investment level." In November, divine let go of 43% of its staff.
Mesirow Financial, Skyscraper's remaining partner, will focus on finding a suitable replacement or if not, find a new investment vehicle to continue Skyscraper's investment strategy.
