Temp Holdings Co, 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 focused on funding and acquiring disruptive HR startups in the recruitment and staffing sector.
Temp Holdings is launching the fund in India, the company said in a statement here.
Noting that globally the staffing industry is an USD 400 billion industry out of which USD 180 billion is contributed by the US domestic market alone, Kamal Karanth, India representative of Temp Holdings, said the Indian HR market is about USD 10 billion plus including all technology platforms and is growing rapidly.
"We are bullish about India and are open to invest," he said.
Temp Holdings is looking out for startups harnessing complex algorithms, predictive analytics, patented platforms and other digital technologies that can enhance the Human Resources productivity, he said.
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 startups across the country, the statement added.
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