Dexus partners with Taronga on proptech

Dexus partners with Taronga on proptech

2 August 2019

Recognising that technology is a game-changer to the property industry, Dexus has partnered with real estate innovation and venture capital firm, Taronga Ventures, on an innovation program set to propel emerging real estate technology businesses in Australia and Asia.

Dexus will be the founding real estate corporate partner for Taronga Ventures’ RealTechX Growth Program. The initiative is backed by the Australian Government and has attracted a diverse group of partners including Microsoft, Google and IBM, UNSW, and CSIRO.

Darren Steinberg, Dexus CEO and Executive Director, said: “RealTechX will help the property industry stay on the edge of opportunities that assist in keeping pace with rapid change and meeting customer demand for enhanced experiences.

“Our partnership with RealTechX will also enable Dexus to secure first-mover advantage on next generation solutions for our business and customers.”

Jonathan Hannam, Managing Partner, Taronga Ventures, said: “With RealTechX, we have created Asia’s first government supported, industry led scale-up program, designed to help Australia’s property sector prepare for the next phase of industry evolution.

“Our aim with RealTechX is to fast-track RealTech growth businesses domestically and help them to expand across Australia and Asia with strong local operating partners.”

Within its first year, the scale-up program will bring together up to 10 market-ready technology businesses, up to 20 established firms, and the market access and capital of Taronga Ventures.

Taronga Ventures Managing Partner, Avi Naidu commented, “RealTechX will be looking to support a broad range of high potential businesses impacting traditional estate models and the built environment. The Program’s focus is on much more than traditional ‘proptech’, we look at innovation across energy & sustainability, construction, mobility, infrastructure and technologies creating smarter cities – all the things that are materially impacting the commercial, retail, industrial, hotel and residential sectors.”

Taronga Ventures, was founded by Mr Hannam who is a former Mirvac head of capital and ex-Aura Funds Management founder Avi Naidu in 2016. The proptech venture capital investor already invests in businesses such as virtual reality group Inspace XR.

Superannuation fund investor ISPT has invested in the Taronga Ventures, the company behind RealTechX.