Corporate venture capital fund to focus on HR platforms boosting employees’ productivity
August 26, 2016, Bengaluru, India: Temp Holdings Co., Ltd (TSE: 2181), a leading a provider of comprehensive human resources services, today unveiled a corporate venture capital (CVC) fund for the Indian HR market.
The Temp Innovation Fund named after its holding company will be focussed on funding and acquiring disruptive HR start-ups in the recruitment and staffing sector. Temp Holdings is launching the fund in India.
“Globally the staffing industry is a USD 400 billion industry out of which USD 180 billion is contributed by the US domestic market alone. The Indian HR market is about USD 10 billion plus including all technology platforms and growing rapidly. We are bullish about India and are open to invest. Temp Holdings is looking out for start-ups harnessing complex algorithms, predictive analytics, patented platforms and other digital technologies that can enhance the Human Resources productivity,” said Kamal Karanth, India representative of Temp Holdings.
The CVC will act like an angel and handhold the investee companies. With its launch in India, Temp Holdings through its India entity Kelly has begun the search for the right fit start-ups across the country. The fund was launched early this year by Temp Holdings in Japan and is now accessible to all global markets.
About Kelly Services: Kelly Services, Inc. is a leader in providing workforce solutions. Kelly Services® offers a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire and direct-hire basis. Serving clients around the globe, Kelly provided employment to more than 550,000 employees in 2015. Global revenue in 2015 was USD 5.5 billion. Kelly Services India was established in 2001 and today is one of the leading staffing and recruitment firms in India. Visit kellyservices.com and connect on Facebook, LinkedIn, and Twitter.