Press Release: 18 May 2016
Mark Burton To Join Taronga Group’s Advisory Council
Mark Burton – the former CIO, Real Estate at the Abu Dhabi Investment Authority has joined Taronga Group’s Advisory Council for the recently launched Real Tech Ventures Fund. Mark will be joining an experienced Council that will combine investors, corporates and industry specialists.
Mr Burton’s career has included senior Executive roles at United Bank of Kuwait, AXA REIM and AIG Global Real Estate Investment Europe. In 2001 Mr Burton became Chief Investment Officer of the Real Estate Department at Abu Dhabi Investment Authority, subsequently performing the same role at Abu Dhabi Investment Council in 2007 from where he retired in 2010.
Mr. Burton currently serves as a Board Member of Real Estate Credit Investments and is Chairman of AEW UK Reit plc both of which are quoted companies and also sits on the board of Value Retail plc. He sits on the Real Estate Advisory Boards for Norges Bank Investment Management and GreenOak and acts as an advisor to Citic Capital Real Estate.
The Real Tech Ventures Fund I will target A$50m primarily from institutional and corporate investors and invest that capital into early stage ventures where real estate and improving the built environment will be the central focus.
The fund will invest into global, scalable entities that will challenge the way real estate – across all sectors – is procured, secured, developed and managed. It will look to develop a diverse portfolio of investments that will include sustainability, energy, design, materials, software and technology and provide capital, mentorship and global networks for those companies in which it invests as well as first mover advantage for the corporates that participate in the fund who will be exposed to new ways of thinking.
According to Jonathan Hannam, Co-Founder and Managing Director of the Taronga Group there has already been tremendous interest from investors and corporates who are grappling with innovation.
‘This opportunity has been presented to some of the world’s largest Sovereign Wealth Funds, Insurance groups, Pension Funds, listed Property companies and large scale owners of real estate. We are introducing them to the concept of Corporate Venturing whereby the capital will be used to seed investment opportunities that can then be trialled in the Investors own portfolio.”
“Each of the investors will be invited to have team members join the Innovation Advisory Council and we are expecting active participation. This may be the CEO but also the head of Innovation and the head of Sustainability. It is about getting active participation into the innovation conversation.”
Founding members of the Advisory Council include Kerry Chikarovski (former NSW Liberal Party Leader) and Melanie Willis (NED for Ardent Leisure, Pepper and Mantra and former CIO at NRMA).
The Fund benefits from favorable legislation in Australia that is looking to encourage investment into innovation – especially under the new Prime Minister Malcolm Turnbull. Under the rules distributions to investors from investments made by the Fund will be exempt of Australian income and capital gains tax.
For more information, please contact:
Jonathan Hannam | Managing Director
About Taronga Group
Taronga Group is an investment house specialising in technology, real estate and sporting & entertainment investment for global institutional and high net worth investors. Taronga strives to provide innovative and creative solutions that deliver lasting value for our investors, our investments and the communities in which we invest. Taronga has extensive experience across global markets and asset classes and is supported by strategic and institutional partners across Asia, the Middle East and Europe.
Abut Taronga Ventures
Taronga Ventures is a technology investor focused on sustainable innovation for the built environment. Through its deep global real estate and technology network Taronga Ventures is well placed to identify and invest in world leading technologies that enhance the built environment, whilst simultaneously providing investee companies strategic global access to distribution and capital.
About Real Tech Ventures I Fund
Launched in March 2016 Real Tech Ventures I Fund is a registered Early Stage Venture Capital Limited Partnership. The Fund is seeking to raise A$50M to invest into real estate related technology.