Dexus, PATRIZIA and CBRE commit to the RealTech Ventures Fund
Taronga Ventures has successfully closed the latest investment round of the RealTech Ventures Fund, with significant investment coming from strategic global investors in Asia, Europe and the United States, including:
- Dexus – Australia’s largest office landlord
- PATRIZIA AG – the global partner for pan-European real estate investment
- CBRE Inc – the world’s largest commercial real estate services firm
The RealTech Ventures Fund is an integral part of Asia’s largest built environment focused ecosystem. The Fund invests into globally scalable emerging companies, enhancing or challenging traditional real estate and infrastructure through the entire asset life-cycle and across all sectors, including office, retail, industrial, residential and new evolving sectors such as built-to-rent. With more than 10 investments made since its inception, the Fund continues to develop a diverse portfolio, covering critical growth areas including energy and sustainability, construction technology, mobility and more recently a focus on tenant and customer health and wellbeing. The Fund is often seen as a strategic partner for emerging companies, providing growth capital, strategic advice as well as extensive real estate experience across Asia.
Taronga Ventures Co-Founder, Jonathan Hannam, said that having active participation in the Fund gives the investors early exposure to emerging technology and innovation trends.
“We are delighted to welcome Dexus, Patrizia and CBRE as new investors into the Fund. 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.”
Taronga Ventures Co-Founder, Avi Naidu, said: “We are seeing that the unprecedented circumstances facing companies around the world are accelerating underlying structural changes that were already occurring in the real estate sector due to the pace of technological advancement. This presents a distinct opportunity for institutional owners of real estate who adopt early, enabling them to deliver value to their customers, communities and capital.”
Dexus CEO, Darren Steinberg said: “The COVID-19 pandemic has accelerated the demand and need for technology and innovation to deliver enhancements to buildings for the health and wellbeing of occupants in their workplaces. 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.”
Dr. Manuel Käsbauer, Chief Technology & Innovation Officer at PATRIZIA, said: “Our partnerships with companies like Taronga Ventures will enable us to scout the very latest global tech solutions and drive innovation with all relevant stakeholders, spearheading the digital transformation of our industry which benefits our clients and our company. Our investments in innovation help us to think ahead and model the future of our business; they are about further enhancing our day-to-day operations as a leading real estate investment manager. Furthermore, these new technologies help us strengthen the efficiency, transparency and quality of our processes and products for the benefit of our clients’ property portfolios.”
Chandra Dhandapani, Chief Digital & Technology Officer at CBRE, said “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.”
About Taronga Ventures
Taronga Ventures is a technology and innovation investor focused on innovation for the built environment. The RealTech Ventures Fund is targeting a $100 million from institutional investors and major real estate corporates. The Fund invests into globally scalable technology and innovation that enhances or challenges traditional real estate and infrastructure across all sectors. The Fund is focused on investing in strategic opportunities and providing its institutional partners first mover advantage, whilst maintaining a focus on creating a better built environment, through sustainable and responsible investment practices. For portfolio companies the Fund provides access to a network of leading asset owners, capital and strategic mentorship. The Taronga Ventures ecosystem also includes RealTechX, Asia’s largest growth program for emerging technology companies reinventing real estate and the built environment. The program is supported by government and leading industry partners as well as Taronga Venture Advisory, a consultancy service that helps corporates to successfully implement and drive innovation.
Dexus is one of Australia’s leading real estate groups, managing a high-quality Australian property portfolio valued at $33.8 billion. We believe that the strength and quality of our relationships is central to our success and are deeply committed to working with our customers to provide spaces that engage and inspire. We invest only in Australia and directly own $16.8 billion of properties, with a further $17.0 billion of properties managed on behalf of third-party clients. The group’s $11.2 billion development pipeline provides the opportunity to grow both portfolios and enhance future returns. With 1.8 million square metres of office workspace across 55 properties, we are Australia’s preferred office partner. Dexus is a Top 50 entity by market capitalisation listed on the Australian Securities Exchange (trading code: DXS) and is supported by 27,000 investors from 20 countries. With 35 years of expertise in property investment, development and asset management, we have a proven track record in capital and risk management, providing service excellence to tenants and delivering superior risk-adjusted returns for investors. www.dexus.com
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 36 years. PATRIZIA’s activities include the acquisition, management, repositioning and disposal of residential and commercial real estate through its best-in-class local network in all key markets. As a global partner for pan-European real estate investment, PATRIZIA operates as a trusted and independent business partner of large institutional, (semi-)professional and private investors in all major European countries. PATRIZIA manages more than EUR 45 billion of real estate and infrastructure assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. PATRIZIA is committed to responsible investments and positive social impact. The PATRIZIA Children Foundation has helped over 220,000 children in need worldwide for over 20 years, giving them access to education and greater opportunities to lead better lives. For further information, please visit: www.patrizia.ag.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.