- PATRIZIA expands its global innovation ecosystem with investment in leading Asian VC Tech fund
- Investment will focus on emerging technology companies in Asia impacting global real estate
- PATRIZIA accelerates its technology leadership and fosters culture of innovation in the real estate sector in the current challenging global economic environment
Augsburg, 26 May 2020. PATRIZIA AG, the global partner for pan-European real estate investment, has entered into a partnership with the Asian PropTech venture capital platform, Taronga Ventures, participating in the most recent close of its RealTech Ventures Fund (the “Fund”) which invests into PropTech in the Asia Pacific region. The Fund targets companies active in PropTech, Construction Tech, mobility, infrastructure, energy and sustainability, as well as data and IoT.
This latest investment by PATRIZIA is a clear expression of its strategy of leveraging the global landscape of innovation. The company is diversifying its ecosystem across different geographies with established local partners, including VC firms, universities and think tanks, that share the same mindset to make a positive social impact.
Dr. Manuel Käsbauer, Chief Technology & Innovation Officer at PATRIZIA, said: “We are further futureproofing 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. For example, Taronga Ventures has invested in advanced solutions fighting the Coronavirus pandemic, such as smart thermal sensors that can detect office workers entering their place of work with a fever or raised body temperature. In addition, the Fund is well placed to support emerging companies which have great ideas but may face challenges in the current economic environment due to Coronavirus.”
The partnership with Taronga Ventures will help PATRIZIA spearhead the digital transformation of the industry and create more value through new cutting-edge technologies. Those are designed to improve and simplify the company’s day-to-day operations as a leading real estate investment manager but also to develop innovative products and services for its growing global client base.
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. Their outstanding real estate track record and substantial focus on technology has put them at the forefront of PropTech investment and makes them the perfect partner to support us in sourcing the best technologies to support the digital transformation of the real estate industry. Patrizia is joined by other major institutional investors from the US and Asia in this close.”
PATRIZIA’s newest partnership closely follows its investment in a fund managed by European PropTech VC, Pi Labs, in February which will also provide access to innovative start-ups but with a focus on Europe. By investing in Asian PropTech, PATRIZIA continues to build on its increasingly influential global footprint as part of the Company’s comprehensive strategy which will see it help shape the next generation of real estate industry worldwide, thus further strengthening its position as a leader in the transformation of real estate.
PATRIZIA has a growing portfolio of investments in leading technologies including AI platform Cognotekt; data management service provider EVANA; WiredScore, the global rating scheme for digital connectivity across commercial and residential real estate; control.IT, the market leader for asset and portfolio management software in the German-speaking region; and BrickVest, the independent, global, open industry platform for real asset investing.
PATRIZIA AG has been active as an investment manager in the real estate market across Europe for more than 36 years. PATRIZIA’s activities include the acquisition, management, repositioning and disposal of residential and commercial real estate through its best-in-class local network in all key markets. As a global partner for pan-European real estate investment, PATRIZIA operates as a trusted and independent business partner of large institutional, (semi-)professional and private investors in all major European countries. PATRIZIA manages more than EUR 45 billion of real estate and infrastructure assets, primarily as an investment manager for insurance companies, pension fund institutions, sovereign funds, savings and cooperative banks. PATRIZIA is committed to responsible investments and positive social impact. The PATRIZIA Children Foundation has helped over 220,000 children in need worldwide for over 20 years, giving them access to education and greater opportunities to lead better lives. For further information, please visit: www.patrizia.ag.
Head of Corporate Communications
Tel.: +49 821 50910-636