In 2002, EurIndia led the only round of private equity funding taken by Allsec before its listing in May 2005. This made Allsec India’s first pure-play, independent Business Process Outsourcing company to list publicly. In 2002 when we invested, Allsec had less than 100 agents and only 3 clients. Following our investment, it scaled rapidly and as of October 2005 it has over 1800 agents and 10 clients, with a target of 3,000 employees by March 2006. Financially, Allsec has earned very high rates of return on capital, and for the half year ended 9/05 its revenues and net profits rose 53% and 73%, respectively, compared to the same period in the prior year.