With the goal of disrupting the built environment, venture capital firm Building Ventures has surpassed its original debut funding target, raising $53 million with the help of over 50 senior executives drawn from its Building Ventures Innovation Network. The fund’s team comprised of investors, entrepreneurs, and built environment experts seeks to find innovative technology capable of reshaping how people live in the modern world.
The founders, Jesse Devitte and Travis Connors, are experienced leaders who have led the Boston-headquarters firm for 20 years, investing in startups that focus on building a more sustainable future. Over two decades, Building Ventures has helped multiple companies use real estate, construction, and smart infrastructure technology to improve the physical world. The firm has a San Francisco office.
One previous investment, Honest Buildings, offers a capital management and project management platform for real estate owners to improve efficiency when working on a construction project. Another company, Newforma, also helps workers manage projects more effectively, by providing architects, engineers, contractors, and owners with organizational software.
“There is a critical need to rethink how we design, build, operate and experience the built world and to address that opportunity we created a fund dedicated to helping shape the digital transformation of the built environment,” stated Devitte
“The strong interest in the Innovation Fund from the industry reflects both our collective commitment to accelerate innovation in the built world and our collaborative approach to investment,” added Connors.
