Australia’s Taronga Ventures’ RealTech Venture I fund, which focuses on the real estate sector in Asia Pacific, has drawn an unspecified amount of investment from Canada’s Ivanhoé Cambridge Inc. and Dutch pension investment firm APG.
They will also become partners in Taronga’s impact innovation programme, which will support adoption of environmental, social and governance technologies and innovations across Asia, the three companies say in a joint statement on February 10.
The RealTech Venture I fund primarily invests in sustainable and clean technology companies in the real estate space in the Asia Pacific region.
Launched in April 2021, it has drawn a number of institutional investors, including Japan’s Nomura Real Estate Development and US property manager CBRE. Its targeted fundraising is between US$75 million and $100 million.
“Institutional capital has an increasingly active commitment to sustainability and driving change across the real estate sector,” Jonathan Hannam, co-founder and managing partner of Taronga Ventures, says in the statement.
Sydney-based Taronga focuses on technology investment in real estate and the environmental sector.
Ivanhoé Cambridge, the investment arm of Canadian pension fund Caisse de dépôt et placement du Québec, had C$60.4 billion ($47 billion) of assets under management as of December 2020, while APG managed approximately 634 billion euros ($722.93 billion) of pension assets at the end of 2021.
