Real estate manager Patrizia has expanded its property technology portfolio with an investment in an Asian venture capital platform.
Patrizia has invested an undisclosed amount in Taronga Ventures’ RealTech Ventures Fund, a fund which targets companies active in proptech, construction technology, mobility, infrastructure, energy and sustainability, as well as data and internet of things.
Patrizia said the partnership with Taronga Ventures will help Patrizia “spearhead the digital transformation of the industry and create more value through new cutting-edge technologies”.
Taronga Ventures said Patrizia is joined by other institutional investors including Dexus and CBRE in the latest investment.
The latest investment follows a number of proptech investments Patrizia has made, including an investment in a fund managed by Pi Labs in Europe. It also previously made investments in Cognotekt, EVANA, WiredScore, Control.IT and BrickVest.
Manuel Käsbauer, chief technology and innovation officer at Patrizia, said: “We are further future-proofing our company by scouting the very latest tech solutions from across Asia which will put us in the driving seat to shape the next wave of tech innovations.
“Taronga Ventures is a likeminded partner which aligns perfectly with our own mission to positively impact society in everything we do.”
Jonathan Hannam, managing partner of Taronga Ventures, said: “We are pleased to be working with Patrizia on our latest fund.
”With its vast European footprint and portfolio, Patrizia brings a great deal of value to our platform thanks to their innovative mindset and their commitment to making a positive impact on society with sustainable investments.”
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