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Patrizia, headquartered in Germany, earlier this year also invested in a European fund managed by Pi Labs

CBRE, Patrizia, Dexus back Taronga fund

Asian proptech VC 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 US.

Backing has come from:

  • Dexus – Australia’s largest office landlord
  • Patrizia – the global partner for pan-European real estate investment
  • CBRE – the world’s largest real estate adviser

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 lifecycle and across all sectors, including office, retail, industrial, residential and new evolving sectors such as build-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.

Jonathan Hannam, co-founder of Taronga Ventures, said: “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.”

Darren Steinberg, CEO of Dexus, said: “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 and 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 and 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.”

The RealTech Ventures Fund is targeting a $100m total 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.

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