Australian Unity partners with Taronga Ventures on real tech growth program, RealTechX

The insurance giant Australian Unity has partnered with venture capital firm Taronga Ventures to promote growth within the real estate sector through an innovation program called RealTechX.

Australian Unity joins core real estate partners Dexus, LendLease, ISPT and PGIM who will collaborate with emerging real estate technology companies in a bid to help Australia’s $182 billion real estate sector prepare for the next phase of industry evolution. 

RealTechX is a program aimed at emerging technology businesses in the real estate and wider built environment sector to achieve “rapid and sustained growth.”

It seeks to connect a network of business, education and government leaders across the real estate sector.

Mark Pratt, Australian Unity’s executive general manager of property, said collaboration and strong relationships were key to Australian Unity’s track record of delivering for investors through real estate investments.  

“We are pleased to be involved with RealTechX, not only to ensure Australian Unity is on the forefront of upcoming real estate technology, but to help mentor the next generation in the industry and provide new and innovative solutions in the property sector. 

“At Australian Unity, we see private capital as critical to funding social infrastructure and other assets that deliver the services our communities need while providing investors with consistent returns.

“Over the last 20 years, Australian Unity's property team has created opportunities for both large institutions and retail investors to access the development of vital social infrastructure services as part of a diversified property investment portfolio,” Pratt said.  

Jonathan Hannam, managing partner of Taronga Ventures, said Australian Unity’s track record in social infrastructure investments sees it well placed to support RealTechX. 

“We are delighted to have Australian Unity as a partner in RealTechX. With its diverse portfolio and focus on alternative asset classes, we will have a broader ecosystem that will allow us to invest in a more diverse group of emerging businesses – across aged care to medical and hospitals.

RealTechX’s first cohort of 10 market-ready technology businesses will be announced in December.