Kelly Services India, a global staffing and recruitment firm, has unveiled a Corporate Venture Capital (CVC) fund, named Temp Innovation Fund for the Indian HR market.
The CVC fund will focus on funding and acquiring innovative HR start-ups in the recruitment and staffing sector. It will act like an angel and handhold the investee companies.
The Venture Capital Fund is being launched by Kelly in association with its joint venture partner for Asia Pacific, Temp Holdings Co, Ltd (TSE: 2181). The fund was launched early this year by Temp Holdings in Japan and is now accessible to all global markets.
Speaking on the HR startup ecosystem of India, Kamal Karanth, Managing Director, Kelly Services India said, “We are bullish about India and are open to invest.”
"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 looking out for start-ups harnessing complex algorithms, predictive analytics, patented platforms and other digital technologies that can enhance the Human Resources productivity," Kamal added.