UTI Venture Funds buys stake at Rev IT

UTI Venture Funds invested $2.3 million in the BPO firm Rev IT in order to tap the strong BPO market flourishing in India. Rev IT with its US subsidiary Sherpa Business Solutions is engaged in outsourcing of healthcare and publishing products since March this year. BPO in India is on a surmounting growth and showing positive signs ever since its intrusion in India.

UTI Venture of Unit Trust of India has thus gained a minority share in Rev IT’s functioning. Rev IT at the moment has strength of 450 people. The move is the clear indication of strong economic reform in the country and BPO in India have played a inseparable part in the movement.