ADP releases its corporate venture capital arm and innovation lab, ADP Ventures. With this release, ADP Venture aims to enhance and strengthen its core business, create offerings in new financial segments, and develop new assets to monetize markets with its human capital management (HCM) solutions.
ADP Ventures will invest to provide support to clients throughout the HCM journey. The investment by the company will be a strategy to scale financial tech startups that advance ADP’s innovation strategy.
With these developments, ADP Ventures aims to focus on early-stage strategic investments with co-investors to target a small subset of the most innovative new companies in finance.
Read More: ADP Launches Corporate Venture Capital Fund