Recruit Establishes 5B Yen Venture Fund / Nikkei

Recruit Holdings established a new organization to invest in startups doing R&D of IT. It sets up 5 billion yen of fund to invest in 30 companies in and out of Japan within 2014. In addition to temporally staffing and print media, the company sets IT related business as growth area.

The new organization is called Recruit Technology Institute. Recruit upgrades existing IT related business development division to be directly under the president. It will be in charge of investment and application development. Two staffs will be located in the US office. ...

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Nikkei 4/1/2014 [jp]

memo

• Recruit is one of the large corporations with active corporate venture activities from the past. Since other traditional companies including mass media are activating CVC, Recruit may try to accelerate even more.