Allegion Ventures, Corporate Ventures Arm of Allegion, Launches $100 Million Fund II
Allegion Ventures — the corporate ventures arm of Allegion — has launched a second fund to accelerate technology and software investments in IoT and data security, building analytics, construction lifecycle management and property management. $100 million is allocated to Fund II, double the size of Allegion Ventures’ initial $50 million fund that launched in March 2018.
Bobby Prostko has been named managing director for Fund II. Prostko, who joined Allegion Ventures as a principal in 2018, also serves as Allegion’s deputy general counsel, intellectual property and cybersecurity, and chief privacy officer. He said the success of partnerships built through Fund I drove momentum for the creation of Fund II, which will write initial checks that are generally in the range of $500,000 to $10 million.