Since 2012, Brick & Mortar Ventures made it their goal to fund and support technology startups focused on the Built World, bringing built-for-purpose solutions to the construction architecture, engineering, and facilities management industries. Their most recent milestone is the closing of a $97.2 million fund, the largest ever dedicated to the construction sector, and also is Brick & Mortar’s first institutional venture capital fund.
Initially closed in January of 2018, the fund already has a portfolio of 16 deals, including companies like ManufactOn, Branch Technology, Timber, SafeSite, and Connect Homes. These portfolio companies have access to Brick & Mortar’s world-class industry experience and the connections in the construction value chain to best leverage it.
“While angel investing across a wide variety of verticals, I observed that out of my portfolio of roughly forty companies, the Built World investments were standout performers and looked to be the start of a larger trend,” said Brick & Mortal Ventures Founding Partner and Managing Director, Darren Bechtel in a press statement. “The rapid growth, impact, and early success of these companies strengthened my conviction there was ‘gold in them hills,’ and now was the time to invest and double down on our built world tech investment thesis.”
The venture treats its anchor investors with just as much care and attention as its portfolio companies, with big names like Autodesk, Sidewalk Labs, and Obayashi offering their support to Brick & Mortar. Known as their Preferred Industry Partners, each works with Brick & Mortal to explore solutions, identify challenges, and consider the benefits of early-stage companies Brick & Mortar knows about, even if they aren’t invested in them. Direct collaboration and knowledge sharing are championed and facilitated at Brick & Mortar, further showing their commitment to strengthening their field and fellows.
