16 JULY 1994, Page 24

Nothing venture

JUST IN time to pay for her 300th birthday party, the sporting Old Lady of Threadnee- dle Street has landed the bet of a lifetime. Fifty-odd years go she put £2.5 million into the fledgling Industrials and Commercial Finance Corporation. ICFC grew up to specialise in venture capital, to survive the badge engineers who renamed it 3i and now to come to market. Dealings start on Monday. The Old Lady will then have about £100 million in saleable shares and another £120 million in cash, which means that as a venture capital investor, she can show 3i a thing or two.