PGIM Real Estate invests in APAC proptech firm

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.

“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 an Asian investment platform focused on emerging real estate and has built innovati