JLL Spark selects Concrete VC as EMEA investment advisor for global venture fund

SAN FRANCISCO and LONDON – THURSDAY, MARCH 7 2019 – JLL Spark, a division of JLL (NYSE: JLL) dedicated to transforming the commercial real estate industry through technology-based innovation, today announced that it has selected Concrete VC as its sole EMEA investment advisor for the JLL Spark Global Venture Fund. Through this partnership, Concrete VC, the investment firm and venture fund helping visionary leaders in the real estate space find, support and invest in the most innovative technologies, deepens its relationship with JLL, who currently serves as a Concrete VC corporate partner.

JLL Spark will leverage Concrete VC’s proven real estate technology expertise in EMEA to help them determine the most relevant startups in which to invest. The two firms most recently invested in Hubble, the online platform for flexible office space in London. Concrete VC will continue to evaluate commercial real estate technology startups on JLL Spark’s behalf to determine portfolio-fit based on how these proptech startups benefit JLL business processes, services and clients.

Concrete VC was founded in London in 2016 and acts as an investment partner to several large real estate players. Concrete’s deep industry experience with real estate technology startups ensures it is in an ideal position to recognize and pinpoint the most promising solutions in EMEA in which to invest. Concrete VC leverages its corporate partners to help identify key EMEA investment opportunities and deploy capital to companies that will positively impact their respective markets.

Concrete’s full Corporate Advisory Group consists of nine global leaders in the real estate sector, including founding partner Seedcamp; investment partner Starwood Capital; real estate service partner JLL; workspace partner FORA; insurance partner Lockton Insurance Group; retail partner Hammerson; industrial and logistics partner SEGRO; legal services partner Clifford Chance; construction partner Leonard by VINCI, and asset management partner Nuveen.

Taylor Wescoatt, Founding Partner of Concrete VC, commented: "We’re thrilled to partner with the biggest players in the commercial real estate industry to expand our influence in proptech. Joining forces with JLL Spark to lead operations in EMEA is a momentous occasion. By combining our networks and partners, we have access to the most promising startups out there. We look forward to growing JLL Spark’s European portfolio as advisors and partners.”

Mihir Shah, co-CEO of JLL Spark, said: “We’re thrilled to partner with Concrete VC to uncover and invest in the best proptech startups in Europe. Taylor and team have proven to be valuable partners in identifying promising new startups through their extensive network and market intelligence. We’re looking forward to increasing our investment in Europe and connecting those startups with the customers and resources they need to grow and scale in commercial real estate.”

Concrete’s venture fund investments to date include Beagle, Bird.i, Buildsafe, District Technologies, Homie, Hubble, Measurabl, Open Sensors and Proportunity.

JLL Spark Global Venture Fund investments include Dealpath, Jones, Hubble, Skyline AI, Honest Buildings, HqO and Vergesense.

Cautionary Note Regarding Forward-Looking Information

This news release contains forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, without limitation, known and unknown risks, uncertainties, and other factors which may cause JLL’s actual results, performance, achievements, plans and objectives, to be materially different from those expressed or implied by such forward-looking statements. Any forward-looking statements speak only as of the date of this release, and except to the extent required by applicable securities laws, we expressly disclaim any obligation or undertaking to publicly update or revise any forward-looking statements contained herein to reflect any change in our expectations or results, or any change in events.

Founded in 2016, Concrete VC is an investment vehicle that invests into Property Technology Startups whilst playing matchmaker with strategic corporate partners across commercial real estate. Concrete invests in early-stage tech, helping them secure high-level access to the kingmakers in the sector by working with them as partners. These include; Seedcamp, Starwood Capital, JLL, Fora, Lockton, Hammerson, SEGRO, Clifford Chance, Nuveen, and Leonard by VINCI. For more information, visit concretevc.com.   

JLL Spark is a division of JLL (NYSE: JLL) dedicated to transforming the real estate industry through technology-based innovation. JLL Spark provides the nimbleness of a startup backed by JLL's expertise and resources. Led by experienced Silicon Valley entrepreneurs with successful track records building and investing in tech companies, JLL Spark's strategic proptech investments offer JLL the ability to provide innovative products to real estate owners and operators. JLL Spark was founded in 2017 and is headquartered in San Francisco, California. For more information, please visit https://www.us.jll.com/en/jll-spark.