Japan-based human resources firm Recruit Holdings has launched a strategic investment fund called HR Technology Fund with ¥2.36bn ($20m) of capital.
Recruit has so far made corporate venturing investments through its Recruit Strategic Partners unit, investing in companies including e-signature technology provider DocuSign, fashion e-commerce company Rent the Runway and fitness app FitMob.
HR Technology Fund will invest in human resources technology companies from seed stage to pre-IPO. Fund manager Chihiro Ueda said: “Our goal is to provide funding for technology companies focused on disrupting the HR sector.
“The HR sector has been slower than other sectors in adopting new technologies. With an estimated several billion dollar potential market opportunity, we believe that this sector is ripe for new ideas.”