JLL Spark China Ventures – PropTech to Enable CRE Innovation in China
In the past decade, China’s tech startup scene has grown rapidly, leading to the disruption of traditional industries in the region, including real estate. The new JLL Spark China Ventures RMB Fund will focus on this market and invest in PropTech startups to enable tech innovation for JLL and our clients in China.
Our China mission is twofold – to deliver the best of local innovation to JLL and its clients, and to invest and partner with local startups. As the appetite for new technology continues to grow, we are in pursuit of entrepreneurs who are deeply involved in this market. We will bring best-in-class startups from across China to work with our clients, helping them navigate commercial real estate (CRE) and expand their revenue base.
A common challenge we see among our clients is their need to stay competitive and cut costs. Technological innovation can provide that edge, and JLL Spark is uniquely positioned to help source and develop such new technologies. As a strategic investor, we strive to form true partnerships with startups. In addition to providing capital, we focus on using our CRE expertise, network, and client base to fuel their growth. We are building innovative CRE ecosystems in major markets across the United States, Europe, and Australia, and we are committed to building a PropTech network in China.
“As part of JLL’s global mission to transform real estate through technology, JLL Spark’s entry into China enables JLL China to capitalize on external innovation in the region,” says Chris Pu, Managing Partner of JLL Spark China Ventures. “We expect to find local PropTech startups to partner with, introducing their solutions to the owners and occupiers among JLL’s China network in cooperation with JLL’s technology division.”
We are inspired by the unlimited opportunities and possibilities in the Chinese market. China is a world leader in specific technological sectors, such as robotics and computer vision. For instance, China dominates the hardware unicorn space, leveraging its manufacturing superpower and supply chain advantage. We anticipate more innovative hardware applications such as smart devices, robots, and IoTs in the built world. Environmental, social, and governance (ESG) is another prevailing trend and as its development continues to unfold in China, the demand for sustainability in commercial real estate is steadily increasing. We expect to see green buildings become the new normal and are keen to meet startups that share our mission to reach net zero targets. Spark China investments would be categorized in JLL Spark’s investment themes – construction tech, sustainability, financial tech, smart buildings, industrial tech, and the future of work.
We invest in early-stage startups, providing them with access to JLL’s extensive client roster and global network. JLL Spark’s growth leads enable startups to scale their business within JLL. Through the new JLL Spark China Ventures RMB Fund, we will support our Chinese investor and occupier clients by working alongside local startups to drive innovation in CRE.
Written by Zhixue Lu, senior manager of strategic initiatives, JLL Technologies
Interested in a strategic partnership with JLL Spark? Apply for an investment here.