Building Ventures, an early-stage venture firm investing in entrepreneurs creating a better built world, has closed its second fund, Fund II, with $95 million in capital commitments. 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.
General Partners Jesse Devitte and Travis Connors co-founded Building Ventures in 2017. Both experienced investors with ties to the industry, Connors and Devitte noticed the need for innovation in built environment technology and the opportunity to partner with industry entrepreneurs.
Since inception, Building Ventures has focused on funding companies in their “sapling” stage—typically seed or series A—when the startup is still early enough in its formative development that the team’s experience, expertise, and network can help it attract the best talent and the optimal early customers to help it grow and reach its potential. 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.
Over the last five years Building Ventures 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). Fund II will double down on this focus, startups improving the full building lifecycle: design, build, operate, and experience.
