Daniel Correa and Ajey Kaushal, formerly senior associates at JLL Spark, have been promoted to principals.

Ajey Kaushal and Daniel Correa

JLL Spark, the corporate venture capital arm of US real estate company JLL, has promoted Daniel Correa (pictured right) and Ajey Kaushal to principals.

Formed in 2017, JLL Spark invests in real estate, construction, financial, future of work, smart building and sustainability technology developers.

The unit, which has about 40 active portfolio companies, is led by GCV Powerlist member and managing partner Raj Singh, who joined the unit in mid-2021 after more than five years in a similar role at JetBlue Ventures, the CVC arm of airline JetBlue.

Correa joined the unit in April 2021 as an associate and was promoted to senior associate a year and a half later. Before JLL, he spent nearly two years at event management firm Convene in a business development role.

Kaushal, on the other hand, joined JLL in January 2022 as a senior associate after a year and a half as chief of staff to the chief executive at family-owned diversified holding group AndersonHoldings. Previously, he was an investment associate at VC firm PLG Ventures for nearly two years from 2019.

Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.