Jasper spins out technology into new SAAS company

We’re excited to announce some changes at Jasper.

Jasper was launched at the end of 2019 and has exceeded all expectations since inception, scaling revenue, rapidly growing assets under management, and becoming one of Australasia’s fastest-growing fund managers. We are proud of our track record and partnerships with some of the world’s largest investors.

Our goal with Jasper from the beginning was to build a next-generation commercial real estate firm combining institutional quality strategies with cutting-edge software. However, when searching for software solutions, we found an industry awash with generic, fragmented solutions that were expensive, slow, and poorly designed.

So three years ago, we set out to build our own technology. We hired a talented product, design and engineering team, put our heads down, and started building. Feedback from our investors was overwhelmingly positive, and we had enquiries flowing in from other fund managers who wanted to utilise our software.

Recently that interest became too large to ignore. Fund managers of every size and type are desperate for easy-to-use, powerful, extensible and secure software to help them run their businesses.

So we have decided to spin out Jasper's technology into a new independent company called Caruso. Caruso will offer modern cloud software to third-party fund managers across asset classes and geographies.

You can read more about Caruso here.

What does this mean for Jasper?

For our investors and partners, nothing will change. Jasper will continue as a property funds management business. The same property team will continue managing Jasper’s assets and funds, surfacing new strategies and growing the business into new asset classes and territories. We will continue to use the same industry-leading software (Caruso) to power our business; the only difference is we will now license the technology as a customer instead of owning it.

Spinning out the technology from the Jasper business will enable us to continue focusing on what we do best; originating deal flow, formulating strategies, and providing on-the-ground asset management for our investors.

As we spin out the technology from Jasper, it makes sense, with his background and experience, for my Co-CEO Mark Hurley to lead the Caruso business alongside Jasper’s CTO, Oliver Shaw. I will continue to lead Jasper now as sole CEO.

We are super excited about what we have planned for Jasper in 2023 and beyond; we are well-positioned with an incredibly talented and passionate team alongside superb capital partners. The team remains focused on navigating the current period of global uncertainty through an active fund management strategy and continuing to scale our business across New Zealand and Australia through strategic opportunities that periods of volatility will inevitably bring.