BOSTON–(BUSINESS WIRE)–Aug. September 2022–
Building Ventures, an early-stage venture company that invests in entrepreneurs creating a better-built world, today announced the closing of its $95 million Fund II. The new capital will be used to invest in 18-20 seed-to-series A construction and real estate tech startups focused on improving every phase of the entire building lifecycle.
This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220906005206/en/
Left to right: Gregg Wallace, Director; Jesse Devitte, co-founder and general partner; Ceillie Clark-Keane, Director of Marketing and Communications; Heather Widman, Associate; Travis Connors, co-founder and general partner; Allen Preger, Partner (Photo: Business Wire)
General Partners Jesse Devitte and Travis Connors co-founded Building Ventures in 2017. Connors and Devitte, both seasoned investors with connections to the industry, recognized the need for innovation in built environment technology and the opportunity to partner with industry entrepreneurs . “Real estate and construction are notoriously slow, change-resistant industries,” said Devitte. “However, society has now placed higher expectations on our built environments, from the quality and provenance of the materials used to the overall environmental impact, from the construction process to day-to-day operations. At every stage of the construction cycle, we invest in the founders and technologies that ultimately make the spaces we use healthier, more convenient and less wasteful.”
Since its inception, Building Ventures has focused on funding companies in their “sapling” phase – typically Seed or Series A – when the startup is early enough in its formative development that the experience, expertise and network of the team can help it attract the best talent and the optimal early customers to help it grow and fulfill its potential. More than two-thirds of Building Ventures’ capital currently under management comes from LPs and strategic partners who are leading global builders, innovative builders and design firms – the same people actively seeking improvements and solutions.
In the last five years, Building Ventures has funded 20 startups, including Dandelion (the nation’s leading geothermal company), Measurbl (the leading ESG platform for commercial real estate), Canoa (design platform for sustainable office design) and Join.build (decision platform for pre-construction). ). Fund II will double down on this focus, startups improving the entire building lifecycle: design, build, operations and experience.
Building Ventures began investing from Fund II in early 2022 and has made equity investments in:
- Animated Insights: a leading provider of technology solutions for digital twins in industry and infrastructure.
- Extracker: provides financial transparency to the construction industry by collaboratively executing change orders.
- Skillit: a powerful recruitment platform that gives construction companies access to a growing network of skilled workers.
“We invest in founders who are in love with the problem they are trying to solve, and we continue to do so in Fund II,” said Connors. “While it’s easy to fall in love with cutting-edge technology or a truly clever sales move, we must have strong faith in the ability of the founders we work with to build a great company that can transform the industry to impact our global needs.” .”
Building Ventures team members are seasoned investors and start-up operators with deep industry expertise, providing entrepreneurs with valuable input and guidance from their personal experience and giving their portfolio access to their extensive industry connections. Newly appointed partner Heather Widman, a three-year veteran of the company in her previous position as director, brings more than fifteen years of technology and start-up leadership experience in roles spanning product management, marketing, customer experience and sales. Partner Allen Preger leads the Building Ventures Innovators Network (BVIN), a proprietary community of more than a hundred industry leaders dedicated to creating a better built world.
About building projects
Building Ventures is an early-stage venture capital firm dedicated to investing in start-ups that are transforming the way we design, build, operate and experience our built environment. Learn more about the team and our portfolio companies at http://buildingventures.com and keep following us Twitter and LinkedIn. Contractors can contact us at buildingventures.com/connect.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220906005206/en/
CONTACT: Julie Bishop
KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE ARCHITECTURE NETWORKS PROFESSIONAL SERVICES DATA MANAGEMENT SUSTAINABILITY FOUNDER TECHNOLOGY COMMERCIAL & REAL ESTATE CONSTRUCTION & REAL ESTATE ENVIRONMENTAL BUILDING SYSTEMS FINANCING
SOURCE: Building Ventures
Copyright Business Wire 2022.
RELEASE: 6/9/2022 8:00 AM / DISC: 6/9/2022 8:02 AM
Copyright Business Wire 2022.