Right around the time venture capital investing was hitting unprecedented levels in the second quarter of 2000, two fund companies were busy rolling out venture capital divisions dedicated to investing in young, Internet and technology-related companies. But like most who got into venture capital investing at its peak, those companies are struggling with or cutting back on their investments, according to industry executives.

Both American Century and Zurich Scudder launched venture capital divisions last year as a way to invest in young, Web and technology companies, which could potentially benefit their businesses from an investment and operational standpoint.

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