“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.
He adds: “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.”
For his part, Christian Ulbrich, JLL’s Global CEO says:
“Creating this US$100 million 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, which is a core part of our Beyond
strategic vision and commitment to achieve ambitions for our clients”.
While JLL Spark will direct its efforts to technology
startups with products that can help JLL investor and occupier clients, the
fund is also interested in 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.
JLL Philippines’ Head of Research and Consulting Janlo de
los Reyes expressed optimism that the new fund will boost the viability of
proptech start-ups in the country. He says: “JLL Spark provides us with the
opportunity to transform the Philippine real estate landscape through the
introduction of the latest technology and innovation developed by both Filipino
and global proptech enterprises.”
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.
To learn more about JLL Spark, please visit
https://spark.jll.com.
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