A "Presbyterian attitude" to investors could hinder the success of Northern firms, a director of a leading venture capital company has warned.

Mr Roy McKelvie of 3i said companies had been slow to take advantage of opportunities offered by venture capital, preferring to keep control within the family.

"We have a wide variety of investments," Mr McKelvie said. "Within the past year we have invested in companies such as Gendel and Macalla Software, and have seen further growth in the value of our portfolio.

"But Northern Ireland has a particular attitude to outside investment, which is wary about bringing new investment into a family business."

But Mr McKelvie said this would not deter 3i from trying to invest, particularly in high-tech companies. He said that Northern Ireland had a unique environment for investors.

"We have found that there is a surplus of capital currently chasing deals here and there are not a great many deals about," he said.