JLL Spark, a division of JLL, has announced the creation of JLL Spark Global Venture Fund which will invest up to US$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 involved.
The fund will help entrepreneurs and their companies by connecting them with JLL’s business lines and clients for insightful feedback and product distribution.
According to a recent report by JLL and Tech in Asia, proptech start-ups in Asia Pacific are outpacing their counterparts in Europe and the United States with 179 of them raising around US$4.8 billion in funding between 2013 and mid-2017 – over 60 per cent of the global total.
It forecasts that funding for proptech start-ups in this region will reach US$4.5 billion a year by 2020.
“Asia Pacific is home to the world’s leading smart cities, many of which are powered by tech-enabled real estate tools. JLL is committed to cultivating next-generation proptech start-ups and promoting Asia Pacific as a hub of technology innovation for real estate, and JLL Spark Global Venture Fund is an extension of that goal,” says Mihir Shah, Co-CEO at JLL Spark.
“The fund gives us the unparalleled opportunity to partner with local and global entrepreneurs who can utilise the resources of JLL’s business lines to rapidly grow their companies while creating value for JLL’s clients.”