Hong Kong / Singapore: February 10, 2022
APG and Ivanhoé Cambridge have today announced they have invested in Taronga Ventures’ built environment technology Fund – RealTech Ventures I (“RTVI”), joining other leading global investors.
APG (“APG”) is the largest pension provider in the Netherlands with over €634 billion of assets under management, on behalf of its pension fund clients, has made its first investment into the built environment technology (“Proptech”) in the Asia Pacific.
With this strategic investment in RTVI, Ivanhoé Cambridge Inc., a global real estate institutional investor, reinforces its innovation strategy and sustainable commitment, while pursuing the diversification of its portfolio in the Asia Pacific.
Taronga Ventures has created an extensive ecosystem to identify and support emerging technology companies in impacting the built environment. Taronga Ventures’ portfolio companies are then advanced through active engagement with its institutional investor base and real estate networks globally. RTVI invests into global emerging technology companies that have a relevance for the Asia Pacific region, covering the entire real estate lifecycle with a strong focus on sustainable and clean technology companies.
In addition to investment in the Fund, both groups will become partners in Taronga Ventures’ ESG Impact innovation program, which will be implemented across Asia in 2022 and 2023. The program supports the adoption of best-in-class ESG technologies and innovations that drive real and measurable change.
“We are delighted to be partnering with Taronga Ventures for our first Proptech investment in the Asia Pacific. 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 wider real estate portfolio. The Fund’s strong focus on ESG related-tech also perfectly aligns with our vision to drive longer term sustainability within real estate,” commented Graeme Torre, Managing Director and Head of Real Estate for APG Asset Management Asia Pacific.
“Technology is a major driving force for real estate to transition into a much more sustainable asset class and we want to remain at the forefront of new technologies and emerging trends globally. We’ll continue to diversify our proptech portfolio and to capitalize on the world’s rapid urbanization and digitalization, and we are delighted to invest with Taronga Ventures as our Asia Pacific partner,” said Sylvain Fortier, Chief Investment and Innovation Officer, Ivanhoé Cambridge. “Our commitment to the Fund will provide us a first-mover advantage in asset management and investments in Asia Pacific, helping us to identify emerging trends across the built environment and accelerating the adoption of technologies targeted at the decarbonisation of the real estate sector, while creating sustainable outcomes for the sector,” he added.
“We are pleased to welcome APG and Ivanhoé Cambridge into our ecosystem as investors and also as partners in our ESG Impact innovation program. Institutional capital has an increasingly active commitment to sustainability and driving change across the real estate sector. We will be working closely with both investors as well as their underlying partners to drive portfolio opportunities and to support their innovation and ESG strategies,” said Jonathan Hannam, Co-Founder and Managing Partner at Taronga Ventures.
As the largest pension provider in the Netherlands, APG looks after the pensions of 4.7 million participants. APG provides executive consultancy, asset management, pension administration, pension communication and employer services for pension funds and employers in the sectors of education, government, construction, cleaning, housing associations, sheltered employment organizations, medical specialists, and architects. APG manages approximately €634 billion (December 2021) in pension assets. With approximately 3,000 employees APG has offices in Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai and Beijing.
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60.4 billion in real estate assets as at December 31, 2020, and is a real estate subsidiary of Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers. For more information: www.Ivanhoecambridge.com.
About Taronga Ventures Taronga Ventures is Asia’s leading 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 innovation program and Taronga Advisory and has offices in Singapore and Australia. The Fund is backed by global institutional investors and major real estate owners including APG, Ivanhoe Cambridge, CBRE Inc., PGIM Real Estate, Mitsubishi Corporation, Nomura Real Estate, Patrizia AG, Dexus, Vicinity Centres, amongst others. The Fund invests into scalable technology and innovation that enhances or challenges the traditional real estate and infrastructure sectors. Taronga Ventures is focused on investing in strategic opportunities and providing its institutional partners first-mover advantage, whilst maintaining a focus on creating a better built environment, through sustainable and responsible investment practices. Recognising that climate change is the biggest global challenge we all face, Taronga Ventures has been independently certified as being 100% carbon neutral.