Human resources provider Randstad has sized its corporate venturing unit, launched in March, at €50m ($62.4m) and will invest in four to five companies each year, it told TechCrunch on Friday.
Ilonka Jankovich, managing partner of Randstad Innovation Fund, previously told Global Corporate Venturing that the fund will invest between €500,000 and €5m in each company, and planned to commit up to €10m over the course of 2014.
Although Jankovich also stated that the unit will invest at series A to series C stage, she told TechCrunch the company’s sweet spot is between seed and series B stage.
At the time of the fund’s launch, it had backed one company, marketing data start-up Gigwalk, but it has since funded freelance services provider Twago, recruitment platform developer Rolepoint and recruitment system company Qandidate.