First London Securities is looking to launch a technology fund investing in spin-outs from Germany's prestigious Humboldt University.

It is close to agreeing a deal to launch a €50m (£40m) fund, with emphasis on technology and clean technology. Recent spin-outs from Humboldt include StudiVZ, the German version of Facebook, which has the largest online community in Germany and was sold to German publishing company Holtzbrinck Verlag for €80m. Philip Stafford