JLL Spark Investor: Erlinda Arriola

Erlinda Arriola is a Senior Investment Associate at JLL Spark Global Ventures and the newest member of the Spark investor team. Prior to joining JLL Spark in December 2024, Erlinda served as a Director at Fitch Ventures where she backed capital markets startups focused on institutional credit, climate, AI, cybersecurity, and risk intelligence. While at Fitch Ventures, she invested in Cortera (acquired by Moody’s), Bixby (acquired by Fitch), Acin, Sigma360, etc. She was also a Scout at HearstLab, an initiative to invest in women-led startups. She was also VP – Corporate Development and Credit Underwriter at Synchrony and GE Capital where she made investments in Socure, Greenlight Financial, and Prove (formerly known as Payfone).  

With her extensive and diverse background as a VC investor, we sat down with Erlinda to gather her views on the PropTech landscape.  

What’s your view on the current market conditions in our industry? 

I’m cautiously optimistic on PropTech startups with the current market conditions. The recent funding rounds and IPO of ServiceTitan are encouraging signs of increasing market confidence in PropTech VC investing. However, the new trend only applies to the US and may differ in EMEA and Asia Pacific due to new regulations and geopolitics. I’m hopeful we will see promising early stage PropTech startups in EMEA and Asia Pacific with the availability of technical talent in universities and a growing middle-class population in those regions. 

Discuss your views on emerging technologies or industry shifts 

It is incredible to see the adoption of AI technologies in capital markets and construction teams in commercial real estate. The service-oriented teams are more open to incorporate emerging technology solutions in their workflows rather than resisting it. This trend could be attractive for founders to start companies that will solve legacy problems in commercial real estate. 

What are your thoughts on our business model and growth strategy? 

I’m excited for JLL’s roadmap as it integrates new technologies in core business lines and continues to provide the best service to our clients. Whether it is through organic or inorganic growth, the commitment to incorporate innovation to our workflow and service offerings is a testament that our clients’ needs and satisfaction come first and the organization will continue to innovate and educate our partners in commercial real estate on how to utilize the best technology for their own business strategy and financial goals.  

How do you differ from other VCs in our space? 

My fruitful learnings and painful experiences in capital markets, e-commerce, industrial, and financial data organizations in various capacities have improved my approach to complex situations. It takes a significant investment in time and a series of effective discussions about fundraising, target customers, or exit options to build meaningful relationships with fellow investors, founders, and members of the startup community. 

Why should a startup take capital from JLL Spark? 
Startups should consider taking money from JLL Spark due to our dedicated team of investors, former founders, subject matter experts, commercial growth champions and network in CRE that result into enterprise customer introductions, refinement of go-to-market and product strategies, and access to key industry advisors. The intersection of real estate and technology is such a complex dynamic that working with JLL opens doors for the startup to engage with organizations or senior leaders who are willing to bet on their long-term success. 

What do you envision for the future of VC in CRE?  

I’m expecting to see more VC activity in CRE as there is renewed interest in PropTech and optimism on a CRE market turnaround. It would be a gradual increase in activity but a renewed positive sign of interest and confidence in PropTech from both generalists and PropTech-focused VC investors. 

When not working on VC deals, Erlinda enjoys hiking in Europe, volunteering in LPGA tournaments, finding the best coffee, reading geopolitical news and economic policy papers, and exploring European Christmas markets.

Connect with Erlinda via LinkedIn or reach out to the Spark team at contact.spark@jll.com. 

Interested in a strategic partnership with JLL Spark? Apply for an investment here.