Uti Arm, Tda Cap Pick Stake In Bpo Firm

UTI Venture Funds, the venture capital arm of Unit Trust of India (UTI), and TDA Capital Partners have announced that they have invested $2.3 million for a minority stake in Chennai-based Rev IT Systems Pvt Ltd and its US subsidiary, Sherpa Business Solutions.

Rev IT, a business process outsourcing (BPO) firm, began operations in March this year and focuses on healthcare and publishing sectors.

Both UTI and TDA have invested equally in Rev IT, while the company