Suffolk Technologies, an institutional venture capital firm affiliated with $5bn US construction firm Suffolk, has closed its inaugural fund, the Suffolk Technologies Fund I, with $110m in capital commitments.
According to Suffolk Technologies, the fund will invest in early-to-growth stage companies across construction technology (contech) and property technology (proptech) that are “creating solutions for safer, more sustainable and efficient construction”.
In turn, these businesses will address issues such as the national lack of affordable housing, high rates of emissions from construction and real estate projects and the increased need for efficient infrastructure investment as a result of the Infrastructure Investment and Jobs Act (IIJA).
Suffolk Technologies connects startups with Suffolk’s more than 2,300 in-house industry experts, over 100 jobsites throughout the United States, over ten thousand trade partners, and hundreds of real estate owners, architects, engineers, and financial services partners. The firm’s team comprises venture capital and industry experts with experience at firms including McKinsey, Microsoft, General Electric, Fairhaven Capital, Dell, AMG National and Suffolk.
