DUBLIN (March 8, 2018) – Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, today launched Allegion Ventures – a $50 million corporate venture fund formed to accelerate the growth of innovative technologies and products.
“Creating this corporate venture fund underscores Allegion’s commitment to investment in growth companies, which is a part of our long-term strategy, as evidenced by our previous investments in Yonomi and Nuki,” said Allegion Chairman, President and CEO David D. Petratis.
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, as well as its global futurist. Wade Sheek, deputy general counsel for Allegion, will serve as Allegion Ventures’ managing principal.
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