Mingtiandi

Asia real estate and outbound investment news

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
Sign Up / Login Logout

Lost your password?
Register
Forgotten Password
Cancel

Register For This Site

A password will be e-mailed to you.

  • Capital Markets
  • Events
    • Mingtiandi 2022 Event Calendar
    • APAC Residential Forum 2022
    • Asia Logistics Forum 2022
    • Asian Capital in Australia Forum 2022
    • Asia REIT Forum 2022
    • APAC Data Centre Forum 2022
    • Singapore Focus Forum 2022
    • Office Strategies Forum 2022
    • More Events
  • MTD TV
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail
  • Research & Policy
  • Advertise

APG, Ivanhoe Cambridge Invest in Taronga Property Technology Fund

2022/02/09 by Christopher Caillavet Leave a Comment

carbon cure Taronga

Taronga invested in Canada’s Carbon Cure Technologies in 2020

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.

Sustainability Focus

The amounts pledged by the two fund managers were undisclosed, but Taronga last April said it had upgraded its initial $50 million target for RTVI to a range of $75 million to $100 million.

AviNaidu-JonathanHannam

Avi Naidu and Jonathan Hannam of Taronga Ventures

The fund backs global emerging firms that have a relevance for the Asia Pacific region, with a strong focus on sustainable and clean tech companies.

“The partnership will allow us to have direct access to some of the latest innovations in our industry which will bring long-term benefits to our wider real estate portfolio,” said Graeme Torre, managing director and head of real estate for APG Asset Management Asia Pacific. “The fund’s strong focus on ESG-related tech also perfectly aligns with our vision to drive longer-term sustainability within real estate.”

Logistics forum 2022_250 ad

The fund’s key investments include the CarbonCure system, which reduces a building’s carbon footprint by introducing recycled CO2 into fresh concrete. Taronga also backs construction project monitoring software OpenSpace, which provides 360-degree photo documentation of sites and automated progress tracking.

The pooled-capital vehicle makes two or three investments per quarter, Taronga managing partner Jonathan Hannam told Mingtiandi last year.

Lengthening Line-Up

Taronga announced last June that two of the best-known names in Japan’s business world, Mitsubishi Corporation and Nomura Real Estate Development, had agreed to come aboard as strategic partners.

The capital commitments by the Japanese firms followed UK developer Grosvenor’s announcement last April that it was investing in RTVI. Grosvenor, a centuries-old group controlled by the Duke of Westminster and his family, praised Taronga as “leaders in the space” of real estate technology.

Logistics forum 2022 Web banner

The link-up with Grosvenor came just over two months after US fund manager PGIM Real Estate acquired an equity stake in Taronga, as well as investing in RTVI.

Taronga has offices in Australia and also in Singapore, where the firm has expanded its RealTech X innovation scheme to accelerate the growth prospects of emerging proptech businesses in the city-state.

Share this now

  • LinkedIn
  • Share
  • Tweet
  • Email

Filed Under: Finance Tagged With: APG Asset Management, daily-sp, Featured, fund raising, Ivanhoe Cambridge, Proptech, Taronga Ventures

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Mingtiandi Delivered

MTD TV

new economy panel office forum thumbnail

Allianz, Benoy, JLL, Asia Green Tackle the New Economy’s Impact on Office Markets: MTD TV

bdx spotlight interview mtd tv thumbnail

BDx Boss Focuses on Service, Not Buzz, to Build Asia Data Centre Network: MTD TV

More MTD TV Videos

Latest Stories

Sharon Lim MCT

Mapletree Wins Approval for $3.1B Commercial REIT Merger

MTD Korea Logistics

Investors Confident in South Korea’s Logistics Market Despite Headwinds

Alex Barnes JLL

Hong Kong Office Market Steadies in April After COVID Curbs Relaxed

Sponsored Features

Rosanna Tang Colliers

Office Upgrades Jump After Omicron Slowed Hong Kong Market in Q1 Sponsored Feature

Bernie Devine

Is Your Building a Device? Sponsored Feature

Vietnam’s BW Acquires First Assets in Long An Province as Growth Continues Sponsored Feature

More Sponsored Features>>

MTD-QR-Code-320

Connect with Mingtiandi

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Real Estate News

  • Capital Markets
  • 2022 Event Calendar
  • MTD TV Archives
  • People
  • Logistics
  • Data Centres
  • Asia Outbound
  • Retail

More Mingtiandi

  • About Mingtiandi
  • Contact Mingtiandi
  • Mingtiandi Membership
  • Newsletter Subscription
  • Advertise
  • Terms of Use
  • Privacy
  • Join the Mingtiandi Team


© 2007-2022 China Advertising Media Ltd (Samoa). All rights reserved.