JLL Spark has launched a $100m PropTech fund to transform the real estate industry through technology.
JLL, professional services firm that specializes in real estate and investment management, has created JLL Spark Global Venture Fund to invest in companies focused on leveraging technology to improve everything from real estate development and management to leasing and investing.
The vehicle will focus on seed and Series A investments, as well as select later stage rounds, with typical investment size ranging from a few hundred thousand to several million dollars.
JLL Spark said it will focus on tech startups providing products that can help JLL investor and occupier clients, or that can be used to better deliver their services.
The fund is also looking at 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 $100m venture fund through JLL Spark allows us to continue to lead the real estate industry in bringing the best PropTech ideas to reality,” said Christian Ulbrich, JLL’s Global CEO.
“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.”
Founded in 2017, and headquartered in San Francisco, California, JLL Spark has made two investments to date, backing MetaProp NYC and Navitas Capital according to its website.
Earlier this year, Reech Corporations Group and Seed Founders launched Europe’s first PropTech venture capital fund. Odysseus Investments, the private equity and venture capital division of Reech, said it will operate alongside Seed Founders, as it looks to build a pan-European portfolio of financial services companies.
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