Building Ventures, a Boston, MA-based early-stage venture firm investing in entrepreneurs creating a better built world, closed Fund II, at $95m.
More than two-thirds of the capital currently under management at Building Ventures comes from LPs and strategic partners who are leading global general contracting firms, innovative builders, and design firms—the same people actively searching for improvements and solutions. 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 stage of the full building lifecycle.
Co-founded in 2017 by General Partners Jesse Devitte and Travis Connors, Building Ventures has focused on funding companies in their seed or series A. Fund II will double down on this focus, startups improving the full building lifecycle: design, build, operate, and experience.
Over the last five years, the firm has funded 20 startups, including Dandelion (the nation’s leading geothermal company), Measurabl (the leading ESG platform for commercial real estate), Canoa (design platform enabling sustainable office design) and Join.build (decision-making platform for preconstruction).
Building Ventures began investing from Fund II in early 2022 and has deployed capital investments in:
- Animated Insights: a provider of digital twin technology solutions across industry and infrastructure.
- Extracker: which provides financial transparency to the construction industry by making change orders collaborative.
- Skillit: a recruiting platform that provides construction companies access to a growing network of qualified workers.
The team also includes newly appointed Partner Heather Widman, and Partner Allen Preger.
FinSMEs
06/09/2022