Grosvenor Asia Pacific, the Asian arm of London-based international property company Grosvenor Group, has invested in Taronga Ventures’ RealTech Fund.
US-based PGIM Real Estate, CBRE, and others also joined the funding round.
“There is no doubt that our industry is being significantly impacted by technology. Partnering with Taronga, which has established themselves as leaders in the space, gives us the opportunity to stay at the cusp of innovation and gain investment exposure to dynamic and growing companies carefully selected and supported by the Taronga team,” said Benjamin Cha, CEO of Grosvenor Asia Pacific.
Grosvenor Asia Pacific was launched in 1994 and is focused on both investment and development in residential, office and retail sectors in Hong Kong, Tokyo and Shanghai.
Taronga Ventures is a technology and innovation investor focused on the real estate sector and the wider built environment. The group consists of the RealTech Ventures Fund, the RealTechX Growth Program and Taronga Advisory and has offices in Singapore and Australia.
The Fund invests in scalable technology and innovation that enhances or challenges the traditional real estate and infrastructure sectors. It is also focused on investing in strategic opportunities and providing its institutional partners with a first-mover advantage, whilst maintaining a focus on creating a better built environment, through sustainable and responsible investment practices.
“We are delighted to welcome Grosvenor Asia Pacific as a Partner. We have been working with Grosvenor Asia Pacific and their colleagues in the wider Grosvenor Group for many years and see a tremendous opportunity for emerging technology companies to scale within the Grosvenor portfolio globally,” opined Jonathan Hannam, Managing Partner of Taronga Ventures.
“Grosvenor’s very long history as a successful investor in real estate is a testament to their deep understanding of real estate cycles. In recent years they have been an active direct investor in real estate technology in Asia, and through this partnership, we are excited to support this forward-looking investment strategy,” added Avi Naidu, Managing Partner of Taronga Ventures.
Image Credit: Grosvenor
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