Taronga Group News

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, PATRIZIA AG and CBRE Inc.

Taronga Ventures is pleased to announce that portfolio company Switch Automation has recently closed a US$5m investment round led by institutional investors out of Asia.

Buildings remain one of the largest contributors to greenhouse gas emissions—19% on a global basis said Carmichael Roberts of Breakthrough Energy Ventures. We’re very excited about enVerid’s molecular air cleaning technology and market potential.

The global engineering & construction industry is worth USD $10 trillion per annum, however the sector has seen almost no productivity growth in 50 years. While other industries have embraced the benefits of process and product innovations, the building industry has failed to modernise and productivity has stagnated as a result.

Taronga Ventures is currently looking for an associate to join its team. The role will involve financial analysis, operations, commercial management as well as strategy and implementation advisory.

Jonathan Hannam, co-founder of investment firm Taronga Group, said institutional demand for real estate technology, known as realtech, had “exploded” over the past 12 months as real estate owners and investors look to future proof their portfolios and make them more efficient.

12 of Australia’s most innovative Leading Real Estate Technology companies chosen from over 182 applicants for the inaugural growth program.

What do you think the proptech investment landscape will look like in 2020 and beyond?
The consensus is that this year will see an ever-growing maturity in proptech, characterised by the emergence of clear category winners and consolidation in the space as the ecosystem matures.

What are the top things that stand out for you from 2019?

The investors all agree that 2019 has been yet another bumper year for the sector, which saw investment skyrocket even beyond the wildest expectations they had at the start of the year. According to some estimates, in Q3 2019 global investment into proptech reached $24.6 billion, making $30 billion a plausible target for the year.

The past 12 months have provided a masterclass in the importance of interest rates – and the availability of cash – in the life of real estate.