Navitas Capital, a Beverly Hills, CA-based venture capital fund focused on early-stage technology investments for the real estate and construction industries, closed its second fund, at $60M in LP commitments.
Limited partners included DivcoWest, JLL, Equity Residential and Saint-Gobain.
Co-Founded by Travis Putnam and James Pettit, who have been joined by Managing Partner Gary Dillabough, Navitas is focused on the real estate and construction sectors. With its new fund, Navitas Capital plans to make 8-10 core investments in the $3-5M range, along with a handful of smaller seed investments.
The firm’s investment strategy is to provide a combination of growth capital, industry expertise, and market access to high growth technology companies in its primary focus areas: smart buildings, workflow solutions, artificial intelligence/machine learning, marketplaces, visualization, construction tech, and financial services.
Investments in the firm’s first fund included PlanGrid, a provider of construction management software, Matterport, the leading interactive 3D and VR technology for real estate, and View, an intelligent glass company.
Early investments in Navitas’ second fund include Truss, a listings and tenant rep marketplace for small commercial spaces, Aquicore, a provider of smart building and commercial energy management solutions, and Honest Buildings, a digital platform for managing capital improvements for commercial buildings.