JLL Spark, the technology and real estate division of investment manager JLL, today announced the creation of a global $100m (£74m) proptech venture fund.
The group said the fund would be invested in companies focused on leveraging technology to improve everything from real estate development to leasing and investing.
The fund will also help entrepreneurs and their companies by connecting them with JLLs business lines and clients, the company said.
Read more: Ranked: Top cities for proptech in Europe
“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,” said Mihir Shah, co-CEO of JLL Spark.
“Thats why our goal is to partner with entrepreneurs, and help them tap into the resources of JLLs business lines so they can succeed in rapidly growing their companies while we also create value for JLLs clients.”
The new fund will focus on seed and Series A investments, the company said, as well as some later stage rounds.
Read more: This $13bn firm has grabbed a stake in UK proptech startup funder Pi Labs
The typical investment size will range from a few hundred thousand to several million dollars, and will be focused on tech startups.
“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, JLLs 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.”
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