The lack of confidence in the technology sector claimed another victim as it emerged internet company Venturedome is to postpone its flotation until market conditions improve.

Venturedome, which brings together venture capital companies and start-up businesses looking for funding, had announced its plans to float last month.

It had been expected Venturedome would raise £3 million from the listing and would be valued at £18 million.

But venture capital company Springboard, which has a stake in Venturedome, said the flotation was postponed due to "difficulties" in the technology, media and telecoms sector.

A spokesman for Springboard said the float had been deferred until market conditions improved. Springboard added that Venturedome continued to develop strongly and had a number of strategic opportunities available to it.

The lack of favour in the sector also saw four technology and telecoms companies ousted from the top-flight FTSE-100 Index earlier this month.

Computer security systems company Baltimore Technologies, handheld computer group Psion and telecoms groups Kingston Communications and Thus were all relegated to the FTSE-250 Index.