Bentley Systems (Nasdaq: BSY), an Exton, Pa.-based infrastructure engineering software company, established a $100m corporate venture capital fund.
Bentley iTwin Ventures will invest in technology companies addressing the emerging opportunity for infrastructure digital twin solutions for roadways, railways, waterways, bridges, utilities, industrial facilities, and other infrastructure assets.
The fund will target investments in transformational digital twin solutions supporting the design, simulation, construction, and/or operations of physical infrastructure.
Bentley iTwin Ventures will invest in early and mid-stage companies that demonstrate ability to develop applications and solutions that leverage and extend infrastructure digital twin opportunities, particularly in the public works and utilities, and industrial and resources, infrastructure sectors. The fund will invest in opportunities which can leverage Bentley’s iTwin Platform and open-source toolkits, supporting subject matter expertise, commercial teaming, and/or global reach and relationships within the infrastructure engineering community.
The company worked with corporate venture capital firm Touchdown Ventures to establish Bentley iTwin Ventures. An initial investment in FutureOn a.s. was already made and announced in October 16, 2020.
Led by Greg Bentley, CEO, Bentley Systems provides software solutions used by professionals, and organizations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, and industrial facilities. Its offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, and the iTwin platform for infrastructure digital twins. The company employs more than 4,000 colleagues and generates annual revenues of more than $700 million, in 172 countries.