Jones Lang LaSalle just launched a new global venture fund specifically aimed at Proptech investments, they’ve called it JLL Spark and it carries a sizable investment wallet.
JLL Spark is focusing on companies that employ technology to improve the real estate industry in areas such as development and leasing among others. The company is interested in companies that are using technology as a business model and aimed to help JLL reach new clients.
“Having been entrepreneurs ourselves, we know how hard it is to bring a new product to market, especially in an industry that has been slow to adopt new technology. That’s why our goal is to partner with entrepreneurs and help them tap into the resources of JLL’s business lines so they can succeed in rapidly growing their companies while we also create value for JLL’s clients,” said Mihir Shah, Co-CEO at JLL Spark.
According to JLL Spark, the new fund will focus on seed and Series A investments, as well as select later-stage rounds, whereby a typical investment will range from a few hundred thousand to several million dollars.
“Creating this $100 million venture fund through JLL Spark allows us to continue to lead the real estate industry in bringing the best proptech ideas to reality. It complements and expands our substantial ongoing investments in innovative, cutting-edge digital solutions, which is a core part of our Beyond strategic vision and commitment to achieve ambitions for our clients,” said Christian Ulbrich, JLL’s Global CEO.
One of JLL Spark first investments is the asset management platform was Stessa (assets backwards).
Read the full release: JLL SPARK