JLL Spark, the venture capital and innovation arm of JLL, has announced the creation of a $100m (£75m) fund to invest in proptech start-ups.
The JLL Spark Global Venture Fund will invest in companies focussed on leveraging technology to improve everything from real estate development and management to leasing and investing.
It will also help entrepreneurs and their companies by connecting them with JLL’s clients for feedback and distribution of their products.
Listen to the full podacast with Mihir Shah, co-chief executive at JLL Spark, below:
Shah said the fund was up and running and had already invested in two companies and was in conversation with “at least three” UK-based start-ups.
The former Groupon senior executive, who joined JLL in July last year to run JLL Spark, said: “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.”
He said the fund would be entirely funded by JLL and there were some sector-specific trends emerging, including workplace apps.
Christian Ulbrich, JLL’s global chief executive, said: “Creating this $100m 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.”
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