Temp Holdings Co, a provider of comprehensive human resource services, announced today the launch of a corporate venture capital (CVC) fund for the Indian HR market.
The Temp Innovation Fund, named after its parent company, will invest in and acquire disruptive HR startups in the recruitment and staffing industry.
The fund will be launched in India by Temp Holdings, according to a statement issued here.
Noting that the global staffing industry is worth USD 400 billion, with the US domestic market alone contributing USD 180 billion, Kamal Karanth, India representative of Temp Holdings, stated that the Indian HR market is worth USD 10 billion or more, including all technology platforms, and is rapidly growing.
“We are bullish about India and are open to invest,” he said.
According to him, Temp Holdings is looking for startups that use complex algorithms, predictive analytics, patented platforms, and other digital technologies to improve Human Resources productivity.
The CVC will act as an angel, guiding the investee companies. Temp Holdings, through its India entity Kelly, has begun the search for the right fit startups across the country with its launch in India, according to the statement.
