Fund managers APG and Ivanhoe Cambridge have become the latest global investors to commit capital to Taronga Ventures’ flagship property technology vehicle.
Netherlands-based APG, which manages investments on behalf of Dutch pension funds, made its first proptech investment in Asia Pacific with its contribution to RealTech Ventures I, Taronga announced this week. Quebec pension fund manager Ivanhoe Cambridge, meanwhile, continues to pursue the diversification of its APAC portfolio with an eye towards sustainability.
“Technology is a major driving force for real estate to transition into a much more sustainable asset class and we want to remain at the forefront of new technologies and emerging trends globally,” said Sylvain Fortier, chief investment and innovation officer at Ivanhoe Cambridge.
Sydney-based Taronga’s latest partners join a line-up of heavyweights invested in RTVI, including Mitsubishi Estate, Nomura Real Estate Development, Grosvenor, PGIM, CBRE, Australia’s Dexus and Germany’s Patrizia.