New $50 Million VC Fund Launched by Allegion to Invest in Security
A new $50 million corporate venture fund was launched Tuesday by Allegion, a provider of security products and solutions for homes and businesses.
The idea behind the fund is to look at how real people live and work and find companies that make security and access better and more seamless.
“With the addition of the new fund, we want to do two things: 1) foster and develop new technologies by investing in tech companies. 2) partner with entrepreneurs in the order to make the world a safer place,” an Allegion Ventures spokeswoman told INV Global.
Allegion employs approximately 10,000 in 130 countries. The company has a market capitalization of more than $8.1 billion.
The venture fund intends to accomplish this by investing between $250,000 and $5 million in early-stage companies, the spokeswoman said, adding that the fund may consider larger or smaller investments, depending on the opportunity. Allegion Ventures will focus on investing in technology that enables quicker and easier security access, companies that focus on user experience, and companies working to reduce friction between security and less-intrusive devices.
“We plan to invest the fund over multiple years, but do not have a set period of time,” the spokeswoman said. “Opportunities will drive the pace.”
The fund will be managed by Touchdown Ventures, a corporate venture capital firm that will support Allegion Ventures at all stages, including deal sourcing, due diligence and portfolio management. Touchdown works with several Fortune 500 corporate venture funds in a similar capacity.
