KPMG High Growth Ventures and Taronga Ventures | KPMG | AU

KPMG High Growth and Taronga Ventures accelerate Australia’s RealTech ecosystem

KPMG High Growth Ventures and Taronga Ventures

KPMG Australia’s High Growth Ventures group today announced a new strategic alliance with leading Asia-Pacifc built environment investors Taronga Ventures and its RealTech Venture Fund – RealTech Ventures I.

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KPMG Australia’s High Growth Ventures group today announced a new strategic alliance with leading Asia-Pacifc built environment investors Taronga Ventures and its RealTech Venture Fund – RealTech Ventures I.

Under the alliance, a program of activities and research will be undertaken to support the development of startups and innovation within Australian’s burgeoning RealTech sector. This will include investor and industry events, sector research, startup and founder programs and an accelerator program focused on nurturing early stage companies that are looking to enhance or disrupt the real estate sector.

“Real estate is the world’s largest sector, with a total global value of over US$217 trillion,” said Amanda Price, KPMG Australia’s Head of High Growth Ventures, “and is at the cusp of a tech-driven revolution. The digital transformation of the real estate sector has already commenced in markets such as New York, San Francisco, London and Stockholm and is expected to have a significant impact on all aspects of real estate.”

“We believe that Australian startups can help lead this revolution in the Asia-Pacifc region. We have founders who understand the space, we have innovative technologies, we have an extremely sophisticated built environment sector due to the institutional nature of our REIT market. Much in the way that Australian emerged as a regional fintech leader thanks to building a community – this alliance is the first step in building a globally relevant Australian RealTech sector,” said Ms Price.

In addition to jointly rolling out programs targeting both the built environment industry and RealTech startups, the alliance will see KPMG’s Amanda Price join the Advisory Council for the Real Tech Venture Fund alongside former NSW Liberal Party leader Kerry Chikarvosky, former Chief Investment Officer for NRMA Melanie Willis and former Chief Investment Officer (Real Estate) for the Abu Dhabi Investment Authority Mark Burton. The majority of the Fund will invest in real estate related startups that will enhance the real estate life-cycle including planning and financing, design and construction, sale and development, leasing and management and sustainability.

Jonathan Hannam, Managing Director and Co-Founder of the Taronga Group commented:“For institutional owners of real estate, being ahead of the curve on innovation is no longer a ‘nice-to-have’ – it is becoming critically important for future-proofing your business. This is creating huge opportunities for startups serving and disrupting the originators, owners and operators of our most important asset class – property. The alliance with KPMG will help us to create a RealTech ecosystem that will support and nurture the investments we make and help them to grow into Asia and beyond .”

Avi Naidu, Managing Director and Co-Founder of the Taronga Group said: “While investment into innovation in the real estate sector has been slow compared to sectors like financial services, this is quickly changing. Many of the largest owners of real estate have realized that in order to ensure long term returns for their portfolios they need to act now to ensure these assets remain relevant to changing consumer demand. And we see this accelerating with huge model shifts in commercial, retail and accommodation as digital technologies create new ways to work, live and play.”

Further information

Ashford Pritchard
T: 0411 020 680
E: apritchard2@kpmg.com.au

About KPMG International
KPMG is a global network of professional services firms providing Audit, Tax and Advisory services. We operate in 152 countries and have 189,000 people working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.

About Taronga Ventures
Taronga Ventures, a wholly owned subsidiary of the Taronga Group of companies, is a technology investor focused on sustainable innovation for the built environment and the Manager of RealTech Ventures I. Through its deep global real estate and technology network Taronga Ventures is well placed to identify and invest in world leading technologies that enhance the built environment, whilst simultaneously providing investee companies strategic global access to distribution and capital.

About Real Tech Ventures I
Real Tech Ventures I (Fund) is a registered Early Stage Venture Capital Limited Partnership (ESVCLP). The Fund will invest into real estate related innovation. The Fund targets core categories of real estate related technology across the real estate life-cycle including:
• Planning & Financing
• Design & Construction
• Sale & Development
• Leasing & Management
• Value Growth
• Sustainability
Being an ESVCLP means Fund investors receive favourable taxation treatment. Taronga Ventures is the General Partner of the Fund.

About Taronga Group
Taronga Group is an investment house specialising in technology, real estate and sporting & entertainment investment for global institutional and high net worth investors. Taronga strives to provide innovative solutions that deliver lasting value for our investors, our investments and the communities in which we invest. Taronga has extensive experience across global markets and asset classes and is supported by strategic and institutional partners across Asia, the Middle East and Europe.

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