6 June 2019
Kiwi entrepreneur Mark Hurley aims to transform commercial property investment
$1M+ capital raise funds new commercial property investment platform
A New Zealand company is set to reinvent the global commercial real estate investment environment with a new venture
called Jasper.
Fresh from selling his previous business to global media giant Dentsu Aegis, Mark Hurley was attracted to commercial
property because it’s a highly desirable asset class with a notoriously difficult entry barrier. Plus, the sector has
had little in the way of innovation through technology.
Serial entrepreneur and previous EY Entrepreneur of the Year finalist, Hurley co-founded Jasper to enhance investment
potential in this sector.
“Commercial real estate is an extremely desirable asset for wealth generation and preservation, yet most investors lack
efficient access to this asset class,” he explained.
“Through a tech-enabled marketplace we’re going to give more people the opportunity to invest in these assets while
offering lower minimums, lower fees, greater transparency and increased liquidity compared to analogue incumbents. It’s
a new and better way to invest in commercial property.
“With Jasper, investors will be able to buy fractional portions of commercial properties online, receive regular
dividends from the property’s rental income deposited directly into their bank account, and then sell their shares
through Jasper’s online secondary market as they desire.”
Jasper will launch in New Zealand and Australia later this year, followed by Asia-Pacific and then Europe.
The NZD$1.025m of capital raised to date will be invested in developing the technology, sourcing a pipeline of
investment opportunities, hiring key team members and securing regulatory licensing here and in Australia.
Craig Donaldson, Global CEO of Kea, Jasper shareholder and director, says “We believe Jasper will change the way people
invest. While commercial property is a huge opportunity, it’s potentially just a jumping off point into something much
bigger.
“We see a future where everyone can invest in high-quality alternative assets from across the globe using simply their
smartphone or similar device.”
In addition to Craig Donaldson and Mark Hurley, other shareholders include Icehouse Ventures, Blair James (Managing
Director, James Group), Nick Beale (Managing Director, RCP), Mark Campbell (Investment Manager, M7 Real Estate Ltd) and
Whisky Ventures.
According to Hurley, Jasper didn’t specifically need external investors: “We could’ve funded Jasper internally” he said,
but the decision to seek funding was strategic.
“It was important for us to bring on strategically aligned investors who can help us execute on this concept. Icehouse,
Craig, Blair and Nick are certainly that. They act as a sounding board and rolodex while also helping us drive
commercial success. We are so grateful to have them involved.”
ENDS