Taronga Ventures, Asia’s leading real estate innovation and technology investment platform, has secured commitment from Singapore-listed global real estate developer City Developments Limited (CDL) for its RealTech Ventures Fund. Other investors in the most recent close of this real estate technology focused fund include PGIM Real Estate, Ivanhoé Cambridge, APG and other leading global investors. The Fund has portfolio investments in global emerging technology companies impacting the built environment. CDL’s partnership with Taronga Ventures marks the latest initiative under its innovation investment strategy which entails identifying, investing, and scaling technologies and innovative solutions that can value add to its core real estate portfolio. CDL has identified technology solutions in the fund’s portfolio which have application across its residential, commercial and hotel asset portfolio and has embarked on feasibility assessments for the integration of these solutions. The implementation of these sustainability-focused innovations will also support CDL’s commitment to achieve net zero operational carbon by 2030 for new and wholly owned assets and developments under its direct operational and management control.
City Developments Limited (CDL) is a leading global real estate company with a network spanning 112 locations in 29 countries and regions. Listed on the Singapore Exchange, the Group is one of the largest companies by market capitalization. Its income-stable and geographically diverse portfolio comprises residences, offices, hotels, serviced apartments, integrated developments, and shopping malls. 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, Ivanhoé 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. Recognizing that climate change is the biggest global challenge we all face, Taronga Ventures has been independently certified as being 100% carbon neutral.