3i can't hack early-stage investing; Youtube founder says bring it on

3i, the venture capitalists, aren’t having a good day. Or year, actually. So much so that the venture capital division has been nailed to the wall and been incorporated into the firm’s ‘growth capital unit’.

Who, then, presided over the Class-A screw up? That’s 734m pounds worth of screw-up, according to the Financial Times (via StrategyEye)

Have a look at the various associates here:

Looks like Jo Taylor is the head honcho for UK Venture Capital:

734m pounds spunked up against the wall. Deary me. So, if you were thinking of approaching 3i for funding for your mobile concept, don’t bother.

In other news, however, the co-founder of YouTube, Jawed Karim, is hoping to show the suits at 3i how to suck eggs by launching his own early-stage investment fund, YOUniversity Ventures (reports StrategyEye). He’s knocked up the fund, which is apparently founder-friendly, along with old PayPal colleagues Keith Rabois and Kevin Hartz. They might be up for mobile related investment — worth chatting to them anyway.