Antfactory, the internet investment fund that specialises in supporting the online strategies of old economy companies, has raised a further $150m (£98m) in new funds and is poised to announce a number of alliances with leading stock-market listed UK companies.

The London-based company has now raised $545m in private equity over the past nine months. If the stock market's appetite for technology stocks improves, it is likely to seek a flotation later in the year valuing it at around $1bn.

Chief executive Harpal Randhawa said: "At the moment we're raising money from value added investors but flotation is always an option."

Investors in the new round include the existing shareholders Whitney & Co, Citicorp Venture Capital and CVC Capital Partners. First-time investors include Allianz Capital Partners, Moore Capital Management and Hopa, which is the controlling shareholder in Telecom Italia.

The funding was completed despite a general cooling among investors' appetite for internet investment and incubator companies.

Antfactory was founded byformer investment bankers and technology experts last year to identify ways in which new economy businesses can partner with existing companies, building on assets like their customer bases, brands and supply chains.

One of its best known investments is in Whittards, the coffee shop operator. Antfactory took a 25% stake earlier this year and is helping it to develop an ambitious global e-commerce division.

Dozens of internet invest ment and incubator companies have emerged over the past year to satisfy investor demand for technology stocks and entrepreneurs' needs for backing. Several, like New Media Spark, JellyWorks and Convergence Holdings have listed on the stock market. However, with market sentiment changing, many are now looking to consolidate with European and US firms.

Mr Randhawa insists that his firm is different. "E-commerce is a non-trivial business. Investing in two people with a good idea and a website does not constitute backing a business. You need customers and you either have to buy them or partner 0someone who has them.

"We believe you need to partner with old economy companies and leverage their brands, supply chains and customer bases. We hope to announce several major deals soon."

Antfactory currently has investments in 20 firms, of which 13 are UK-based.