Property consultant JLL floats $100 mn fund for Asia-Pacific realty-tech startups
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JLL Spark, a division of global property consultant Jones Lang LaSalle Inc., on Wednesday announced the creation of JLL Spark Global Venture Fund to invest in tech-focused real estate companies in the Asia-Pacific region. The fund will pick startups with products that can help JLL investors and clients, or which can be used by JLL businesses to better deliver services.

With a corpus of $100 million, the fund will also connect entrepreneurs and their companies with JLL’s business lines and clients for feedback and product distribution. “The fund gives us an opportunity to partner local and global entrepreneurs who can use the resources of JLL’s business lines to rapidly grow their companies while creating value for JLL’s clients,” said Mihir Shah, co-chief executive at JLL Spark.

On the fund’s geographical focus, Shah said, “The Asia-Pacific is home to the world’s leading smart cities, many of which are powered by tech-enabled real estate tools.”

The new fund will focus on seed and Series-A investments, as well as later-stage rounds. Typical investment size will range from a few hundred thousand to several million dollars.

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