Entrepreneur Gary Laurence has invested in two new start-up recruitment businesses through his recently launched Krypton Capital investment company.
Staffed by 10 people, IT and high-level finance recruitment firm Clear Edge is London based with about 70% of its work involving overseas markets. Office support recruiter Classic Consulting is located in Brighton and has seven staff. Both companies have operated since January.
Laurence has launched and sold several recruitment companies, including international multi-sector Huntress Group, over his 30-year career in the industry. He told Recruiter that Krypton Capital comprises capital put together by a number of investors who are interested in recruitment businesses. “The specific reason I put it together,” Laurence said, “was that I had been approached by many people in the industry who were keen… to set up on their own, but usually lacked the capital and sometimes the know-how and the confidence to set up a new company.” Krypton is also intended to back management buy-outs.
Laurence said he was filling a void in the market left by venture capitalists (VC) whom, he contends, are put off providing “seed capital” to recruitment businesses today. “It’s too risky. That’s where I step in,” he said. “And in addition to the typical VC, I also provide the ongoing industry expertise together with back office support, advice on banking, anything else that I can provide them with that they might think would be of value.”
Laurence added he was “probably seeing two other opportunities a week at the moment”. He is also mentoring three other firms operating in “totally unrelated” sectors and chairing a board of governors for an independent senior school.