JLL Spark announces $100 million global venture fund
Mihir Shah, Co-CEO, JLL Spark
JLL Spark, a division of JLL (Jones Lang Lasalle) recently announced the creation of JLL Spark Global Venture Fund, which plans to invest up to $100 million in companies focused on leveraging technology to improve everything from real estate development and management to leasing and investing, while enhancing the experience of those who occupy it. The fund will also help entrepreneurs and their companies by connecting them with JLL’s business lines and clients for insightful feedback and distribution of their products.
“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.
The new fund will focus on seed and Series A investments, as well as select later stage rounds. Typical investment size will range from a few hundred thousand to several million dollars. JLL Spark will direct its efforts to technology startups with products that can help JLL investor and occupier clients, or that can be used by JLL businesses to better deliver their services. The fund is also interested in companies that are inventing new technology-enabled business models in traditional JLL service areas or those that will help expand its services to new client segments.
“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.
Source: JJL Global.
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