Norwest Venture Partners Leads $20 Million Investment in Rising KPO Star Adventity

NVP Managing Partner Promod Haque Recognizes Potential of Emerging Financial Services Outsourcing Powerhouse Adventity

Mumbai, India, and Palo Alto, Calif., January 17, 2007 - Adventity, the market leader in providing finance-focused and highly differentiated, strategic Knowledge Process Outsourcing (“KPO”) and Business Process Outsourcing (“BPO”) services, announced today that it has secured $20 million from an investment group led by Norwest Venture Partners (NVP), a global technology venture capital firm. Adventity will use this funding to expand its market presence and infrastructure, further build out its innovative service offerings and increase business development efforts.

As part of the investment, Promod Haque, managing partner at NVP, will join Adventity’s board of directors. This NVP-led investment represents the first institutional round of funding for Adventity.

Adventity’s significant domain expertise has enabled the company to offer the most comprehensive and highly differentiated services across its business lines and create a leadership position. Adventity’s offerings include:

1. Leading high-value financial research and analytics services to the global investment banking, research and asset management markets;
2. An end-to-end, India-based offshore mortgage origination and processing service for the U.S. market;
3. A technology-independent outsourced revenue accounting service to the international airline industry;
4. The most comprehensive, turn-key credit, debit and loyalty cards program management and transaction processing “service bureau” service for the Asian market.

“To move up the value chain, India needs to be focused on offering high-value, high-impact differentiated services that require deep domain expertise and provide significant barriers to entry. Adventity is a perfect example of a next-generation services company that fits this description, and it has been a rising star since the company’s inception in 2003. Adventity’s innovative services and the strength of its management team are driving the company’s phenomenal growth,” said Promod Haque, managing partner, NVP. “Adventity has quickly emerged as a force in the KPO, mortgage and payments processing industries. With a highly-skilled professional workforce and a value-added approach, Adventity offers the highest level of research and analytics services for the financial services sector.”

Adventity has combined the extensive Wall Street and commercial banking background of its management team with the best practices of the industry and India’s pool of high-caliber talent to offer the next generation of outsourcing to the financial services market. In doing so, Adventity provides its customers with the competitive advantage of being able to broaden their landscape for potential investment and to improve decision-making by basing it on customized targeted analysis. The company is at the forefront of the booming KPO market which analysts believe will reach $17 billion by 2010. Adventity’s KPO solutions encompass quantitative capabilities such as financial modeling, comparable valuation analyses and data mining, as well as qualitative services such as broad researching and industry profiling.

“We’re finding that the marketplace is increasingly receptive to Adventity’s services, as we are being awarded progressively more mission-critical client assignments,” stated Niket Patankar, co-founder and CEO of US Operations. “This adds to the excitement generated by NVP’s decision to invest in our company. NVP’s commitment, coupled with our dedication, will help us to meet the rising demand for KPO services, and take our company and the industry to the next level.”

With more than 2,000 employees globally, Adventity has continuously added new clients, including several global and investment banks, airlines, and some of the largest hedge funds. “By developing deep client relationships, we’ve built a track-record for successful service delivery, which has helped set the company apart and opened the door to new opportunities,” added Kumar Subramanian, Adventity co-founder and CEO. “At the same time, this has contributed strongly to the business community’s perception of the value this model has to offer. As a result, we find both our company and the industry to be in a strong growth position.”

About Adventity
Adventity is a leading provider of finance-focused strategic KPO and BPO services. The company leverages its significant domain expertise to provide high-value, high-impact outsourced services. Headquartered in Mumbai, with offices in North America, Europe and Asia, Adventity’s clients include Global 1000 companies as well as top banks and investment banks, private equity firms, research houses, hedge funds and asset managers, management consulting firms and global airlines. Adventity provides comprehensive and cost-effective outsourcing solutions, including tailored knowledge services, transaction processing solutions and customer contact support. Adventity’s KPO solutions encompass both quantitative capabilities such as financial modeling, comparable valuation analyses and data mining, and qualitative services such as broad researching and industry profiling. Adventity was recognized for its outstanding achievements by the industry and was awarded the title of “Emerging Company of the Year” for 2005 at the prestigious annual Indiatimes Mindscape BPO Industry Awards. Additional information can be found on the company’s website: http://www.adventity.com.

About Norwest Venture Partners
Norwest Venture Partners (NVP) is a global venture capital firm that has actively partnered with entrepreneurs to build great businesses for more than 45 years. NVP focuses on investments in information technology including: semiconductor and components, systems, software, services and consumer/Internet technologies. The firm currently manages more than $2.5 billion in venture capital out of its office in Palo Alto, California, USA. Managing Partner Promod Haque has been ranked as a top 10 dealmaker on the annual Forbes Midas List for the past three years. In 2004, Forbes named him as the #1 venture capitalist worldwide based on performance over the last decade, and in 2006, he was presented with a Global Leadership award from NASSCOM.

NVP has funded over 400 companies since inception, including more than 20 cross border companies, and several direct investments in India. Recent NVP transactions include Airespace (acquired by Cisco Systems), Resonext Communications (acquired by RF Micro Devices), Spinnaker Networks (acquired by Network Appliance) and Winphoria Networks (acquired by Motorola). NVP has also funded such market leaders as Actel Corporation, Brocade Communications, Cerent (acquired by Cisco Systems), Documentum, Extreme Networks, Forte Software (acquired by Sun Microsystems), PeopleSoft, Persistent Systems, Tivoli Systems (acquired by IBM) and Yatra. Additional information on Norwest Venture Partners is available at www.nvp.com.