Global investors Patrizia, CBRE and Dexus have entered into a partnership with the Asian proptech venture capital platform, Taronga Ventures in the most recent close of its RealTech Ventures Fund.
The Fund invests in proptech in the Asia Pacific region, targeting globally scalable companies active in proptech, challenging and enhancing traditional infrastructure and real estate through the asset lifecycle – and across all sectors including Build to Rent.
“Having market leading institutions as investors is a critical component of the ecosystem Taronga Ventures has created, providing emerging companies with growth opportunities in a global portfolio of assets and relationships.”Jonathan Hannam, Co-founder, Taronga Ventures
The Fund is a fundamental part of Asia’s largest built environment focused ecosystem. With ten investments made so far, the Fund has built a diverse portfolio covering areas of growth – with target companies active in proptech, construction tech, mobility, infrastructure, energy, sustainability, IoT and more recently on tenant health and wellbeing.
The Fund invests in emerging real estate technology and innovation companies across the real estate sector on behalf of institutional investors, and offers growth capital and strategic mentorship to portfolio companies from a network of leading asset owners globally.
“As the global real estate market continues to evolve, technology is an increasingly critical enabler of solutions for both occupiers and landlords. CBRE’s relationship with Taronga will provide value-added insights on emerging solutions, particularly for the Asia Pacific region, and help to inform how we serve our clients around the world.”Chandra Dhandapani, Chief Digital and Technology Officer, CBRE
Having active participation in the Fund provides investors with early exposure to emerging technology and innovation trends. For real estate institutional owners who adopt early, the pace of tech advancements provides a distinct opportunity – allowing them to deliver value to their customers, communities and capital.
Dexus’s investment into the Fund and its strategic minority investment into the Taronga Ventures platform builds on its existing partnership, where it has been active in Taronga’s RealTechX growth program for emerging technology companies.
“As we leverage our strategies to create more healthy buildings, our investment into the fund and Taronga platform will enable us to secure first-mover advantage on next generation technology solutions for our business, customers and investors.”Darren Steinberg, CEO, Dexus
Patrizia – the global partner for pan-European real estate investment – recently bought a Build to Rent development in Amsterdam, They have also invested in a fund managed by European PropTech VC, Pi Labs – which will provide access to innovative start-ups with a focus on Europe.
“We are excited to gain Patrizia as a strategic investor in Pi Labs’ Fund 3. Patrizia adds value to our start-ups through its global reach and substantial real estate expertise, as well as its forward-looking internal set-up and vision.”Faisal Butt, CEO, Chairman and Founder, Pi Labs
By investing in Asian proptech, Patrizia continues to build on its influential global footprint which will see it help shape the next generation of real estate industry worldwide, further strengthening its position as a leader in the transformation of real estate.
“Taronga Ventures has invested in advanced solutions fighting the Coronavirus pandemic, such as smart thermal sensors that can detect office workers entering their place of work with a fever or raised body temperature. In addition, the Fund is well placed to support emerging companies which have great ideas but may face challenges in the current economic environment due to Coronavirus.”Dr. Manuel Käsbauer, Chief Technology & Innovation Officer, Patrizia