Will invest in companies that aim to transform the real estate industry through technology
JLL Spark, a division of JLL announced this week it is creating JLL Spark Global Venture Fund, which will 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 occupants’ experiences, according to a company release.
For commercial real estate owners, the creation of this fund could mean more innovative solutions coming their way to help them manage their property or help improve wireless coverage for their tenants.
Additionally, the fund will assist entrepreneurs and their companies by connected them to JLL’s business lines and clients for feedback and to distribute 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,” JLL Spark co-CEO Mihir Shah said. “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.”
The JLL Spark Global Venture Fund’s focus will be on seed and Series A investments and select later stage rounds. The typical investment size will be between a few hundred thousand and several million dollars. JLL Spark will put its attention on tech startups that have products than can assist JLL investor and occupier clients, or that JLL businesses can use to better deliver their services. Companies that are inventing new tech-enabled business models in traditional JLL service areas or those that can expand JLL’s services to new client segments have also drawn the fund’s interest.
“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,” JLL Global CEO Christian Ulbrich said. “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.”