As a part of its effort to continue to lead technology adoption and creation across its multiple businesses, Mitsubishi Corporation today announced a strategic partnership with leading built environment technology investment firm, Taronga Ventures, through an investment into Taronga’s RealTech Ventures Fund.
Mitsubishi Corporation will leverage Taronga’s deep expertise in real estate and infrastructure technology and its unique understanding of the complexities across Asia Pacific markets. Being the largest general trading house in Japan and one of the largest conglomerates in the world, Mitsubishi Corporation also sees it role to be a leader in sustainability.
Taronga Ventures is focused on emerging real estate, built environment and sustainability innovation and technology opportunities for major corporations. Taronga Ventures invests into scalable companies that support the innovation strategies of its investors and the broader built environment. Mitsubishi Corporation joins a group of some of the world’s largest real estate firms, including PGIM Real Estate (NYSE:PRU), CBRE (NYSE: CBRE), Patrizia AG (ETR:PAT), Grosvenor Group and Dexus (AXS:DXS) in the partnership.
“At Mitsubishi Corporation, we are very focused on remaining at the cutting-edge of innovation in the urban development businesses. This has been practiced across all our developments across Japan, ASEAN, and the US, but has become particularly relevant in the urban development and real estate businesses as this sector sees rapid transformation. In addition to enhancing our customer experience and optimising asset performance we are seeking to drive more sustainable practices within our projects to minimise the environmental impact and solve the municipal challenges. Partnering with Taronga gives us access to their deep expertise and networks accelerating this strategy”, said Naoshi Ogikubo, Senior Vice President, Division COO of Urban Development Division.
“We are very pleased to welcome Mitsubishi Corporation as a strategic partner and investor. The group is uniquely positioned to create scaled impact of new technologies across the built environment. Its urban development capability spans across a wide spectrum, from housing and retail to heavy infrastructure such as airports and railways, across geographies. We’ll be working closely with the Mitsubishi team to drive technology opportunities through their portfolio and to support their innovation strategy”, said Avi Naidu, Co-founder and Managing Partner, Taronga Ventures.