This article is from the Australian Property Journal archive
DEXUS has invested in Asia’s largest real estate technology investment manager – Taronga Ventures – and its RealTech Ventures Fund, to leverage the wave of innovation and technology that has been accelerated by the COVID-19 pandemic.
Dexus joins global partner for pan-European real estate investment, PATRIZIA AG and CBRE as investors.
The fund invests on behalf of institutional investors into emerging real estate technology and innovation companies across the real estate sector, offering growth capital as well as strategic mentorship to portfolio companies from a network of leading asset owners globally.
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,” he added.
Taronga Ventures co-founder Jonathan Hannam 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.
The fund is targeting a $100 million investment from institutional investors and major real estate corporates.
