U.S. venture capital firm Norwest Venture Partners has invested $20 million in Adventity, an Indian business and knowledge process outsourcing firm that focuses on the travel and financial services industries. (1/18/2007)
This is the first round of institutional funding Adventity has received, Norwest said in a statement on Wednesday.
Adventity has more than 2,000 employees worldwide and has clients including investment banks, airlines, hedge funds and research and consulting firms in North America, Europe and Asia.
Norwest, which manages more than $2.5 billion in venture capital, recently partnered with Reliance Capital Ltd. and broadcaster TV18 group on the Indian online travel portal Yatra.in.
