6 June 2018 – Eje Prime
JLL is betting on the future and is going to invest €85 million in proptech. The international real estate consultancy firm has launched JLL Spark Global Venture Fund, a venture capital fund through which it intends to acquire stakes in the shareholdings of companies that focus their businesses on offering digital solutions to the real estate sector.
The operation responds to the boom in digitalisation in the sector in all of its segments and aspects. From the use of BIM to facilitate the daily management of logistics spaces to virtual reality, which lets you visit your house before you buy it, and including big data, which provides all the information retail operators could wish for to allow them to know the needs and preferences of potential clients.
The fund will be global, and so the more than 220 proptech firms that are already registered in Spain will have the opportunity to receive a boost from JLL. The vehicle will also focus on seed capital investments and the first round of financing for companies.
“In 2017, investments in technological real estate companies grew by 25%, to USD 3.4 billion, and although the development of proptech firms is on the rise, many challenges still lie ahead and that is precisely there where JLL wants to add value”, said Mihir Shah, co-CEO of JLL Spark Global Venture Fund.
Original story: Eje Prime
Translation: Carmel Drake