Newly established V-Logic plans to provide on-line logistics fulfilment services to global retailers, according to chief executive Peter Levesque. The company, set up by a consortium led by United States-based E M Warburg Pincus, plans to raise revenue mainly by providing warehousing and inventory system management. Mr Levesque said V-Logic would focus on brand retailers, particularly in the US and Europe, and he expected the company could turn in a profit before the third year. V-Logic yesterday completed the first-round financing, with E M Warburg Pincus committing US$2.5 million, which capitalised V-Logic at US$4 million. While the exact shareholders structure was yet to be known, E M Warburg Pincus director Jose Cheng said the company would have a significant minority in V-Logic, which would make it the single largest shareholder. The management of V-Logic holds the second-largest shareholding in the company. Wharf Holdings subsidiary Modern Terminal Limited (MTL) is slated to become a minority shareholder, providing logistics infrastructure, warehousing, and management information support to V-Logic. MTL has not committed the investment yet. Sean Kelly, deputy managing director, said the revenue generated from V-Logic would not be significant for MTL. It would also have some other e-commerce initiatives - to be announced later in the year.