Jones Lang LaSalle's JLL Spark Starts $100M Venture Fund
Zacks Investment Research | Jun 06, 2018 04:14AM ET
JLL Spark, a new division of Jones Lang LaSalle (NYSE:JLL) , has launched JLL Spark Global Venture Fund. The venture fund will be investing about $100 million in startups which focus on improving and developing the real estate sector. The move is in sync with Jones Lang LaSalle, popularly known as JLL’s efforts to invest in technology and innovation.
The fund will also connect the budding entrepreneurs to the company’s existing clients and business lines. This will aid the companies in getting vital feedbacks while helping in the distribution of their products.
JLL Spark will be concentrating on seed and Series A investments and will also opt for later stage rounds, with investments ranging from hundred thousand to some millions. Notably, the company will focus on technology startups having products that will aid JLL’s investor and occupier clients or help JLL’s business in delivering better services.
JLL launched the division, JLL Spark in 2017 to bring change in the real estate industry with the help of technology. JLL Spark was formed to ensure that JLL and its customers get technological assistance by creating products and making tactical acquisitions. Also, it complements JLL’s business and helps it perform better than its peers.
In March 2018, JLL Spark acquired Stessa, a real estate “software-as-a-service” technology platform. This helped investors to easily track and manage their portfolios of income generating properties. It also allowed investors real-time views into their property, increasing transparency.
Mihir Shah, co-CEO at JLL Spark informed, "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."
Shares of this Zacks Rank #2 (Buy) stock have surged 44.4% over the past year, widely outperforming the industry ’s growth of 6.6%.
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A few other top-ranked stocks from the same space are Colliers International Group Inc. (TO:CIGI) , PennyMac Mortgage Investment Trust (NYSE:PMT) and Vonovia SE Unsponsored ADR (OTC:VONOY) . All the stocks carry a Zacks Rank of 2. You can see Zacks Investment Research
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