Investment advisory firm Boman Group has teamed up with sustainable solutions company JPC Group to launch a new $60 million investment fund that will focus on investing in prefabricated or modular housing with a view to addressing Australia’s housing crisis.
The fund says it has already completed its first investment in an undisclosed Australian modular housing company, which the partners say is widely recognised as a national flagship for the sector.
“We believe construction innovation such as modular building, advanced building materials, 3D construction printing represents the next great leap in how Australia builds, one that is critical to helping solve Australia's housing shortage while offering strong returns for investors,” says Eric Gao, co-founder and CEO of Boman Group.
“Australia is uniquely positioned to address these challenges. Australia retains its distinctive commitment to quality and design, creating a strong foundation for the sector’s development.
“This combination makes Australia one of the most promising environments to foster innovation in construction technology, with many companies already in this sector pioneering unique solutions suited to our region in construction technology. In many instances however, they lack both the capital and contacts to scale.”
Boman Group’s partnership has been struck with JCP Group investment arm JPCX which targets investments in emerging technologies and innovative building solutions.
The Melbourne-based JPC Group was founded in 1990 and in that time has secured extensive relationships with major Australian developers, contractors and suppliers.
"JPC Group's three decades of experience across logistics, shipping and building supplies has given us a unique perspective on the entire construction value chain,” says Paddy Jayawardena, director of JPCX.
“We've witnessed the industry's inefficiencies from every angle - from container logistics to on-site delivery - and understand firsthand the structural challenges facing traditional construction.
“Through JPCX, we're leveraging these established relationships with major developers and suppliers to identify and scale the technologies that will transform how Australia builds.
“Construction innovation, including modular housing and emerging technologies, isn't just an improvement over traditional methods, it's the fundamental evolution our industry needs for the future."
The partnership points to the latest State of the Housing System report, which has found that Australia is set to miss its 2029 housing construction targets by 260,000 dwellings as housing supply continues to lag population growth.
The Melbourne-headquartered Boman Group, which was founded in 2011 by Eric Gao and Julius Wei, has more than $860 million in assets under management.
Originally known as BMY Group and rebranded to Boman Group in 2024, the company provides high-net-worth investors with investment opportunities and structures such as fixed income, private equity and IPOs.
“Boman Group has a long track record of identifying transformative businesses across technology and innovation, from Airbnb to OpenAI,” says Gao.Help us deliver quality journalism to you.
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