HR Fund To Invest In Four HR Firms This Year

HR-Fund-to-invest-in-four-HR-firms-this-year-Economic-TimesECONOMIC TIMES, 22 APRIL 2012

NEW DELHI: HR Fund, a venture capital which boasts of anchor investors like Santrupt Misra, Director atAditya Birla Group, and Arvind Agrawal, President of Corporate Development and Group HR of RPG Group, plans to make investments in at least four companies this year.

The fund, promoted by the Gurgaon-based Withya Group, focusses on the human resources (HR) segment and is in the last stages of finalising investment in a company which is likely to be announced within a month.

“The total corpus that we have is Rs 60 crore and we plan to make investments in four different companies this year,” Withya Group Director Varun Talwar told reporters.

While he declined to disclose the details of the company in which HR Fund will make its first investment, Talwar said: “It is in the HR media space.”

When asked about the quantum of investment, he said it could range between Rs 2 crore and Rs 8 crore in any of the company that the fund would invest.

“In any company we invest, we take a minimum of 26 per cent stake. While we won’t take management positions, we will take board positions,” Talwar said.

The Withya Group had made its first investment in PeopleStrong HR Services Pvt Ltd, an HR outsourcing company in India specialising in HR shared services, consulting, payroll management and recruitment solutions.

Talwar said the next investment for HR Fund is in the HR Software space and “currently talks are on with two companies based out of Bangalore and Mumbai.”

Moreover, discussions have been initiated with two other companies in the HR staffing domain, he added.

The other anchor investors in HR Fund include Venky Mysore, CEO and Managing Director of Kolkata Knight Riders, NS Rajan, Global leader Human Capital Advisory Ernst & Young and Pankaj Bansal, founder of PeopleStrong.

Talwar said HR Fund will focus on India, neighbouring contries and the Middle East.

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