Venture Infotek is focussed on e-infrastructure for transactions and encompasses technologies like the Internet, WAP, Smart Cards, Database management, Data Transmission, and e-CRM. The company also announced that it had bought out the stake of the US-based Equifax, with whom it had earlier entered into a JV. Equifax Venture Infotek (EVI) is now a wholly owned division of Venture Infotek. "This is a recession proof business and there is a significant first mover advantage here," said Mr Dalip Pathak, GM, Warburg Pincus explaining the investors' rationale behind getting into the company. "We will be using the funds to scale up operations as well as expand into various regions and will be looking at both organic and inorganic (acquisition led) growth going forward," commented Mr Piyush Khaitan, co-founder, Venture Infotek.

India top destination for Warburg war chest
Speaking at the sidelines of the media conference, Mr Dalip Pathak, GM, Warburg Pincus, disclosed that the company had also invested $10 million in a Bangalore-based company, Orbit-e, last week. Warburg's other recent investments include one of $10 million in Apar Infotech, an investment of $6-7 million in Cash Tech Solutions and a $15 million investment in two US-based call centres - VCustomer and Technicall, according to Mr Pathak. Mr Pathak adds that the company's total investments in India stood at about $320 million currently, which made it Warburg's biggest investee country in Asia.