Foundamental, a Berlin, Germany-based construction-focused venture capital firm, closes its second fund, at $85m.
The firm has three General Partners each managing their respective regions:
- Patric Hellermann who covers Europe,
- Shub Bhattacharya covering APAC; and
- Adam Zober covering North America.
Foundamental invests in early-stage start-ups – aims to be the first institutional investor in the companies in which it invests – and likes to be a partner to its portfolio companies offering guidance and support throughout their journey. The firm focuses on all technologies that aim to help automate and augment the myriad of processes in the built environment, empower field workers and small businesses to be more productive and work more safely + all technologies that make construction cleaner and more sustainable.
Looking forward to the second fund, Foundamental aims to replicate its investment thesis and strategy: leveraging global benchmarking and early-trend recognition; and investing in a historically neglected vertical, which touch all global citizens: housing, skilled labor, public and private infrastructure.
The firm started investing in 2019 and has invested in 64 companies, which currently represents a $5.4bn aggregate valuation. The portfolio includes one unicorn, InfraMarket, a company which currently generates over $1Bn+ in revenue. Additionally, the first fund has achieved three exits, multiple follow-ons, Also, the portfolio includes seven companies with $100m+ in run-rate. Exits include Indus.ai, which was acquired by Procore; Holobuilder, which was acquired by Faro Technologies; and follow-ons from global generalist venture capital firms, in portfolio companies including, and not limited to: WizFreight, TuL, LocoNav, Speckle, Forge and SafeAI.
FinSMEs
14/12/2022