Notification of Establishment of RSP Fund No. 6. LLC
Oct. 29, 2014
Recruit Holdings Co.,Ltd.
Recruit Holdings Co., Ltd. (hereinafter referred to as the "Company") hereby announces that it resolved at its Board of Directors meeting held today to establish a new RSP Fund No. 6. LLC as stated below as part of its corporate venture capital activities.
1. Purpose of establishing the fund
In April 2014, the Company established the Recruit Institute of Technology ("RIT"), an organization aimed at investing in world-class technologies and people. The Company has carried out investment activities in innovative startups from all around the globe, with the aim of creating new business domains outside the existing businesses of the Recruit Group and acquiring cutting-edge technologies through RSP Fund No. 5. LLC, operated by Recruit Strategic Partners Co., Ltd. ("RSP"), a corporate venture capital arm of the Company operated and managed by RIT. Due to the completion of investment totaling 5.0 billion yen (the investment budget for RSP Fund No. 5. LLC), the Company has decided to establish a new fund, RSP Fund No. 6. LLC.
2. Overview of the fund to be established
|(1)||Company name||RSP Fund No. 6. LLC|
|(2)||Location||8-4-17 Ginza, Chuo-ku, Tokyo, JAPAN|
|(3)||Basis of establishment||Limited Liability Company under Japanese law|
|(4)||Purpose of establishment||To carry out investment activities in innovative startups from all around the globe, with the aim of creating new business domains outside the existing businesses domains of the Recruit Group and acquiring cutting-edge technologies.|
|(5)||Total amount of investment||5.0 billion yen|
|(6)||Investor, investment ratio, overview of investor||Recruit Holdings Co., Ltd. (100.00%)|
|(7)||Overview of representative||Name||Recruit Holdings Co., Ltd.|
|Location||8-4-17 Ginza, Chuo-ku, Tokyo, JAPAN|
|Name and title of representative||Masumi Minegishi
President and CEO, & Representative Director
|(1) Resolution of the Board of Directors||October 29, 2014|
|(2) Establishment||Mid-November 2014 (planned)|
4. Future outlook
The impact of the establishment on the Company's consolidated business results for the year ending March 2015 will be minor.