JLL Spark, a division of JLL, announced the creation of JLL Spark Global Venture Fund, which plans to invest up to $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 who occupy it. The fund will also help entrepreneurs and their companies by connecting them with JLL’s business lines and clients for insightful feedback and distribution of their products.
“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. That’s why our goal is to partner with entrepreneurs, and help them tap into the resources of JLL’s business lines so they can succeed in rapidly growing their companies while we also create value for JLL’s clients,” said Mihir Shah, Co-CEO at JLL Spark.
The new fund will focus on seed and Series A investments, as well as select later stage rounds. Typical investment size will range from a few hundred thousand to several million dollars. JLL Spark will direct its efforts to technology startups with products that can help JLL investor and occupier clients, or that can be used by JLL businesses to better deliver their services. 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.
“PropTech is now “fancy” word being used in our industry every day. Whether we like it or not technology will have significant impact on our current environment. Disruptors are entering our space and we should be able to adopt our communication when we get challenged by our clients. Therefore it is important you and your teams are aware of the Spark activities by which we want to accelerate our market-leading position in digital real estate services. JLL Spark Global Venture Fund is a massive step forward,” explained Miroslav Barnáš, CEO of JLL CZ&SK.
CEO for Czech Republic & Slovakia
Miroslav is a real estate professional with over ten year experience with commercial and residential properties. His main focus is advising tenants and landlords, sellers and buyers on the leasing, acquisition, disposals and development of commercial and residential space in the CEE region. For the past 10 years he was also responsible for development, management and driving forward the business of JLL in Slovakia. In January 2017, Miroslav was appointed to lead JLL´s business in the Czech Republic alongside his existing responsibilities as country manager for JLL Slovakia. Today he oversees the team of more than 110 real estate professionals in both the Czech and Slovak republics. Besides the managing responsibilities he heads the Capital Market team - the most experienced Capital Market team in the Slovak and the Czech market. He is responsible for ensuring that a best practice, client care, proactive communication and appropriate technical knowledge is provided by all team members. By market he is perceived as an ambassador of ethical approach and transparent dealing. Miroslav is a qualified surveyor and member of Royal Institute of Chartered Surveyors. More »
„Being an active user of technology on a daily basis, and having grown up with some of the earlier transformational technologies, I am genuinely intrigued and excited to see what JLL Spark will ignite for real estate industry over the coming months and years. Let’s face it, anything is possible ... especially when I think back to the days of my Commodore 64 (with tape drive and no internet) and then look at the enormous power of tech that is available today which has transformed so many industries and our personal lives at such an incredible pace and scale,” added Kevin Turpin, Head of Research & Consulting CEE.