Australian Financial Review Article December 11, 2018

Australian Financial Review reporter Su-Lin Tan headlined Taronga Ventures in AFR article ‘ISPT joins Taronga Ventures in ‘proptech’ investments’.

Tan addressed Taronga Ventures’ partnership with ISPT, ‘Superannuation fund investor ISPT has teamed up with property technology group Taronga Ventures to invest in early-stage “proptech” businesses, as it joins the move to digitalise real estate.

The partnership follow’s ISPT’s opening of its technology, innovation and collaborative workspace at Foy’s Arcade in the Melbourne CBD in 2016.’

Tan then introduced Taronga Ventures’ founders, ‘Taronga Ventures, founded by former Mirvac head of capital Jonathan Hannam and ex-Aura Funds Management founder Avi Naidu in 2016, is a proptech venture capital investor that already invests in businesses such as virtual reality group Inspace XR and has also taken an interest in collaborative workspace business WorkClub.’

Quoting Jonathan Hannam, Tan outlines, ‘”Having leading real estate partners, such as ISPT, is critical for the ecosystem that we have created across Asia,” Taronga Ventures managing partner Jonathan Hannam said.

“We are seeing hundreds of firms looking to enhance or disrupt the real estate sector and it is great to see institutional owners and investors getting involved.”‘

It is reported, ‘Together they will consider investments in proptech companies that specialise in data, energy management, sustainability, mobility, infrastructure, construction costs and safety, and the development of smart cities. Taronga says the disruption in these areas is likely to affect major owners in commercial, retail, industrial, hotel and residential real estate.

Taronga usually invests between $100,000 and $3 million in each early-stage company and says ISPT’s contribution to the investments is not a set split but differs across opportunities.

An ISPT representative will be invited to join the Taronga Ventures’ innovation advisory council, which consists of investors, partners and industry experts.’

 

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