Institutions vie for first-mover advantage in Asian proptech

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Karl Tomusk

Pension fund managers APG and Ivanhoé Cambridge have invested in Taronga Ventures’ RealTech Ventures I (RTVI) real estate technology fund as they seek to expand in Asia-Pacific.

The partnership marks the first time that APG, the largest pension provider in the Netherlands with over €634 billion in assets under management, has invested in proptech in the region.

For Quebec-based Ivanhoé Cambridge, the partnership strengthens its sustainability strategy and commitment while diversifying its APAC portfolio, the company said.

The partnership also strengthens Ivanhoé Cambridge’s already close ties with the proptech sector, having previously entered into a strategic partnership with venture capital firm Fifth Wall.

Both funds highlighted the benefits of having a “first-mover advantage” in real estate innovation through Taronga. Investors in other venture capital funds, such as Fifth Wall’s, have taken a similar view of partnerships.

RTVI invests in emerging companies that have a particular interest in the region and are “strongly focused” on sustainability and clean technologies.

Taronga’s recent investments include Hubble Singapore, a construction management platform, and retail software startup Kepler Analytics.

In addition to investing in the fund, APG and Ivanhoé Cambridge will become partners in Taronga’s ESG Impact innovation program, supporting new sustainable technology innovations across Asia in 2022 and 2023.

Graeme Torre, Managing Director and Head of Real Estate at APG Asest Management APAC, said: “The partnership will allow us to have direct access to some of the latest innovations in our industry, which will bring long-term benefits to our housing complex. wallet.

“The fund’s strong focus on ESG-related technology also aligns perfectly with our vision to drive longer-term sustainability in real estate.”

Sylvain Fortier, Head of Investment and Innovation at Ivanhoé Cambridge, echoed Torre’s remarks, adding, “Our commitment to the fund will provide us with a first-mover advantage in asset management and investing. in Asia-Pacific, helping us identify emerging trends across the built world. environment and accelerating the adoption of technologies aimed at decarbonizing the real estate sector, while creating sustainable outcomes for the sector.

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