Allegion plc has launched Allegion Ventures — a $50 million corporate venture fund formed to accelerate the growth of innovative technologies and products, says the company.
Allegion Ventures will invest in early-stage companies that are poised for growth and going beyond traditional approaches to make security and access “smarter, stronger, faster and less intrusive.”
Rob Martens has been named Allegion Ventures’ president. He also serves as Allegion’s head of external partnering and collaboration.
Meanwhile, Wade Shek, deputy general counsel for Allegion, will serve as Allegion Ventures’ managing principal.
“Allegion is intent on being at the leading edge of discovery,” said Martens. “We want to use our knowledge of how people live and work to make security and access better in the future. With the addition of a venture fund, Allegion — already a pioneer in the industry — will help companies grow and scale faster as a result of our market expertise.”
Allegion has partnered with corporate venture capital firm Touchdown Ventures to assist in managing the fund.