As part of its effort to expand and strengthen its global innovation strategy through key partnerships, PGIM Real Estate has acquired a strategic equity stake in Taronga Ventures, further supported by a commitment to Taronga's RealTech Ventures Fund. PGIM Real Estate is the real estate investment and financing business of PGIM, the $1.4 trillion global investment management business of Prudential Financial, Inc. (NYSE: PRU).
"Venture capital partners are critical to helping us scale our own innovation efforts and remain at the forefront of digital evolution," said Sara Shank, managing director and global head of innovation at PGIM Real Estate. "Our partnership with Taronga Ventures provides us with deep access to the firm's insights and connections into regional real estate technology and innovation. This will allow us to quickly identify and adopt the best products available in a market that is becoming increasingly crowded and fragmented, for the benefit of our investors."
Taronga Ventures is the leading Asian investment platform focused on emerging real estate and has built world innovation and technology opportunities across the Asia-Pacific region. Through its first RealTech Ventures Fund, the firm invests into globally scalable companies that enhance or challenge traditional real estate and infrastructure across all property types. PGIM Real Estate joins a growing list of global real estate firms, including CBRE (NYSE: CBRE), Dexus (AXS: DXS), and Patrizia AG (ETR: PAT), that have invested in the Fund.
"In today's market, employing technologies that can drive better investment performance and operational efficiencies is imperative to maintaining our competitive advantage," said Benett Theseira, PGIM Real Estate's head of Asia Pacific. "Real estate is a long-term investment, which makes it especially critical that we stay ahead of innovations that will directly impact the performance and value of our assets."
PGIM Real Estate's investment in the RealTech Ventures Fund marks the latest milestone in the execution of its global innovation strategy, which is focused on developing and implementing new products and data strategies across all of the firm's functions to remain at the forefront of digital evolution. This effort will advance the firm's investment decision-making and business operations globally by harnessing data and technology in new ways.
The partnership with Taronga follows PGIM Real Estate's investments in the U.S. to MetaProp NYC's MetaProp Ventures II and III. The funds invest in startups across the proptech landscape, including in 3D printing, blockchain, co-working/co-living, augmented reality and digital energy management for all global real estate asset types. PGIM Real Estate intends to invest in a European proptech fund to round out its global strategy.
"Institutional capital is now demanding that investment managers are at the forefront of innovation and technology. As one of the world's leading investors, we look forward to working with PGIM Real Estate to drive change through the real estate sector and broader built environment," said Jonathan Hannam, Taronga Ventures co-founder and managing partner.
"The real estate sector has traditionally been slow to innovate, but forward-thinking owners are now creating real value. Whether it is better understanding tenant customers through data capture and deep analytics to provide enhanced experiences; using advanced building materials and methods to dramatically reduce cost and carbon impacts; or utilizing artificial intelligence to develop safer assets and cities, there is a significant depth of opportunity," said Avi Naidu, Taronga Ventures co-founder and managing partner.
With 15 investments made since its inception, the RealTech Ventures Fund continues to develop a diverse portfolio, covering critical growth areas including energy and sustainability, construction technology, mobility, tenant and customer health and well-being. Taronga's investments include a number of high-profile technologies such as CarbonCure, which is backed by the Amazon Climate Pledge Fund and Bill Gates' Breakthrough Energy Ventures.
This website is intended for COMMERCIAL BORROWERS located in Location Not Listed. Please set your preferences.
*Required Fields
Sorry based on your current selections, you cannot continue. Please update your selections or visit pgim.com/multi-asset-solutions for more information.
By continuing on to PGIM.com you are agreeing to the following:
For Professional Investors only. All investments involve risk, including the possible loss of capital.
This website is for informational and educational purposes only and should not be construed as investment advice or an offer or solicitation in respect of any products or services to any persons who are prohibited from receiving such information under the laws applicable to their place of citizenship, domicile or residence.
PGIM is the principal asset management business of Prudential Financial, Inc. (PFI), and a trading name of PGIM, Inc. and its global subsidiaries. PGIM, Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration with the SEC does not imply a certain level of skill or training.
In the United Kingdom, information is issued by PGIM Limited with registered office: Grand Buildings, 1-3 Strand, Trafalgar Square, London, WC2N 5HR. PGIM Limited is authorised and regulated by the Financial Conduct Authority (“FCA”) of the United Kingdom (Firm Reference Number 193418).
In the European Economic Area (“EEA”), information is issued by PGIM Netherlands B.V. with registered office: Eduard van Beinumstraat 6 1077CZ, Amsterdam, The Netherlands. PGIM Netherlands B.V. is authorised by the Autoriteit Financiële Markten (“AFM”) in the Netherlands (Registration number 15003620) and operating on the basis of a European passport. In certain EEA countries, information is, where permitted, presented by PGIM Limited in reliance of provisions, exemptions or licenses available to PGIM Limited under temporary permission arrangements following the exit of the United Kingdom from the European Union. These materials are issued by PGIM Limited and/or PGIM Netherlands B.V. to persons who are professional clients as defined under the rules of the FCA and/or to persons who are professional clients as defined in the relevant local implementation of Directive 2014/65/EU (MiFID II).
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom, the PGIM logo and Rock design are service marks of PFI and its related entities, registered in many jurisdictions worldwide.
The information on this website is not intended as investment advice and is not a recommendation about managing or investing your retirement savings. In making the information available on this website, PGIM, Inc. and its affiliates are not acting as your fiduciary.
© 2025 Prudential Financial, Inc. and its related entities.