Borealis Ventures Launches New Early-Stage VC Focused on a BetterBuilt World
Building Ventures to be led by Built Environment Veteran Jesse Devitteand Travis Connors
BOSTON, September 18, 2018-- BuildingVentures, an early-stage investor committed to innovation in thebuilt world, today announced its official launch. The new initiative isco-founded by the leaders of Borealis Ventures built environmentinvestment team, Jesse Devitte and Travis Connors. Since Borealis’ founding, the team has been the most prolific early investor in thebuilt world space with over 20 investments and 10 successful exits inits history. With offices in Boston and San Francisco, Building Ventureswill focus on funding breakthrough companies that will propel the builtenvironment forward to a better, more sustainable future.
Building Ventures was formed to fund and grow solutions for the realitythat the world’s increasing urban population, projected to grow by 2.5billion people by 2050, will require nothing short of a revolutionin how we design, build, operate and experience the built world. Thetechnologies and methodologies utilized today will not scale to delivera sustainable built world in which 10 billion people can thrive. As aresult, the past few years have witnessed a rapid increase in investmentin the construction and real estate tech markets, the two foundationalelements of the built environment.
“Borealis has found success by specializing on our strengths inhealthcare and built environment investing. With the rapid growth in thebuilt environment market, it was a natural evolution for us to createBuilding Ventures with a laser focus on the built environment,” saidPhil Ferneau, Borealis Ventures Managing Director and Co-founder. “Theteam’s expertise, reach, and track record in the built world will ensurethat Building Ventures quickly becomes an industry force.”
“Today’s launch is a culmination of our three decades of combinedexperience in the built environment space,” said Jesse DevitteCo-founder and General Partner, Building Ventures. “Travis and Irecognized the perfect fusion of opportunity and timing with theindustrialization of construction, the deployment of space as a serviceand the promise of smart buildings to deliver a better built world.Building Ventures’ mission is to solely focus on funding disruptiveideas in the built environment to help create a better world.”
“We are only at the beginning phase of seeing builders and owners tapinto the transformational power of technology to operate moreefficiently, effectively, productively and sustainably,” said TravisConnors, Co-Founder and General Partner, Building Ventures. By investingand mentoring built technology startups, Building Ventures seeks toenable these companies to scale rapidly and confidently, capitalize onthe industry’s potential and help make the potential future of the builtworld a reality.
Over the past year, the team has accelerated its investment pace withfive investments and one successful exit. These include Smartvid.io (AIfor Construction), Blokable (Affordable Housing Development as aService), Measurabl (Commercial Real Estate Sustainability Platform),Dandelion Energy (Residential Geothermal Heating/Cooling as a Service)and Assemble Systems (BIM Construction Software). Assemble Systems wasacquired by Autodesk in July as a cornerstone of its initiative todigitize the construction industry. In the coming months, BuildingVentures will continue to build out its team and identify new investmentopportunities.
About Building Ventures
Building Ventures provides venturecapital funding and mentoring to early-stage start-ups in the builtenvironment space. Headquartered in Boston with an office in SanFrancisco, the team consists of investors, entrepreneurs and builtenvironment veterans. As built environment pioneers, the BuildingVentures mission is to champion disruptive ideas in the builtenvironment to build a better world together. For more information,visit http://buildingventures.com and follow us on @buildingvc.
About Borealis Ventures
Borealis Ventures is an early-stageventure capital firm that partners with entrepreneurs driving innovationin healthcare and the built environment. For more information, visit www.borealisventures.com and follow us on @BorealisVC.
Claire Rowberry, +1 617-785-5571
Venture Capital Database