Taronga Ventures, an investment management firm, announced today that it has expanded its RealTechX innovation programme to Singapore.
The initiative will be supported by the government agency Enterprise Singapore.
This news follows Enterprise Singapore’s partnership with Australia’s Government’s Department of Industry, Science, Energy and Resources to expand RealTechX beyond Australia to Asia Pacific.
The goal is to help growth-stage real estate and construction companies to achieve sustained growth.
“Our key selection criteria is that the solution can demonstrate effectiveness and business value for our real estate corporate partners,” a spokesperson of the company told e27.
Companies participating in RealTechX will receive access to global real estate corporate customers, potential investment and expert advice on global and domestic growth strategies.
The programme’s corporate partners include Dexus, ISPT, Lendlease, Australian Unity and PGIM Real Estate. The initiative is also supported by tech giants like Microsoft, Google, IBM and AWS.
Enterprise Singapore’s Director (Urban Solutions and Infrastructure Services) Yeoh Choon Jin said: “Singapore has maintained a focus on supporting best-in-class innovation in the built environment. We have designed our city and spaces to deliver better citizen experiences and through technology, we are enhancing our urban environment and infrastructure performance.”
“As a leader in built environment technology investment, we are delighted to be partnering with Taronga Ventures and its RealTechX growth program to grow our ecosystem,” he added.
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“We have a long-term commitment to Singapore and its regional ecosystem, having established our second headquarters in the market and hiring top talent locally,” added Taronga Ventures’s Managing Partner Singapore Avi Naidu.
Taronga Ventures is an institutional venture fund that invests in globally-scalable entities that enhance the way real estate is designed, procured, financed, developed and managed across all sectors.
According to property brokerage and consultancy JLL, the total value of the investable global commercial real estate is estimated to reach US$65 trillion by the year 2020, with Asia Pacific accounting for over 30 per cent of it.
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Image Credit: Youssef Abdelwahab
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