FTVentures
announced this week that we have partnered with Ellen Zimiles, a global
expert on anti-money laundering, and Joseph Spinelli, a leading
authority on white-collar crime, to form Daylight Forensic &
Advisory LLC, an independent fraud risk management firm conducting
forensic investigations and providing regulatory compliance advisory
services to corporations and the public sector worldwide. FTVentures
invested $30 million in Daylight, which was founded to meet the rapidly
increasing demand for forensic and advisory services unencumbered by
independence issues. The financial institutions that make up our Global
Partner Network are facing mounting complexities posed by fraud risk
management and compliance challenges and Daylight is well-positioned to
help institutions navigate these challenges.
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For more information about Daylight Forensic & Advisory LLC, please contact:
Mohit Daswani
mdaswani@ftventures.com
(415) 229-3072
For
the last two years, analysts have been predicting a China outsourcing
boom. Large international companies are looking to China for its labor
arbitrage (5:1 savings over the U.S. and 50% savings over India) and
massive IT talent pool (four times the number of engineering graduates
versus the U.S.).
FTVentures portfolio company, Freeborders, is proving that China
providers are also ready to deliver award-winning quality to major
global companies.
In June, Freeborders won the 2006 Outsourcing Excellence Award in the
category of Best European collaboration for its relationship with
worldwide fiber manufacturer, INVISTA. The Outsourcing Excellence Award
is an annual program sponsored by Forbes Magazine and the Everest
Group. Freeborders is the first China IT outsourcing provider to win
the Outsourcing Excellence Award. Other winners include industry
heavyweights Accenture, HP Global Services, Perot Systems and Wipro.
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For more information about Freeborders, please contact:
or visit www.freeborders.com.
FTVentures has been actively focused on the human resources ("HR")
services industry and has recently invested in this space (see Capital
H Group in left hand column). We remain engaged in this market, as we
believe that demand for HR services will continue to experience healthy
growth as board rooms grapple with a range of HR-related challenges.
HR services is generally divided between consulting and outsourcing
services. HR consulting services include solutions which help
organizations optimize their workforce through various HR
methodologies, such as process redesign and reengineering,
organizational design, benefits and compensation program design, HR
measurement and balance scorecard. HR outsourcing services involve the
processing, management, and administration of any HR process or
function, such as payroll, benefits administration, vendor management,
recruiting administration, training strategy and administration and
performance management. The HR services market is highly fragmented and
is served by a variety of competitors including traditional HR
consulting companies, units of large insurance and financial firms, IT
consulting and services companies, audit/tax firms, and staffing and
recruiting companies.
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