An Evening to Celebrate
It was certainly a night of celebration in Boston on Tuesday, July 11th, as the Suffolk Technologies team formally announced the closing of their $110 Million Inaugural Venture Fund. Suffolk Technologies, seeded by Suffolk Chairman and CEO John Fish, and led by Co-Founders Jit Kee Chin and Wan Li Zhu, and Managing Partner Puneet Mahajan, is a venture capital platform funding the next generation of companies solving built environment challenges. To pave the way for a more productive and sustainable future, Suffolk Technologies deploys capital, resources, and networks to help founders disrupt the construction, architecture, engineering, real estate, and infrastructure sectors.
John Fish, Chairman and CEO, Greeting Attendees Prior to His Address
BuiltWorlds was invited to join the celebrations alongside startup founders, investors, educators, and other friends of Suffolk Technologies at The ‘Quin House in Boston’s Back Bay. To kick off the event, attendees heard from John Fish, Chairman and CEO of Suffolk Construction, who spoke about construction technology being a lever that can help revitalize the United States through increased productivity, quality, and safety. Fish went on to emphasize his immense pride, not only for the city of Boston but the people that make it “a hub of innovation,” evidenced by the schools and proven technology in the area. With such influence and optimism, it’s hard to ignore the role that Boston, and Suffolk, will play in the continued advancement of the AECO industry. Given Suffolk Tech’s unique position as a standalone fund supported by a large General Contractor like Suffolk Construction and its executive team, Wan Li and Jit Kee have the ability to portray a really interesting story that resonates with both investors and startups.
Pictured from left to right: Matt Gray, Executive Chairman, BuiltWorlds; Wan Li Zhu, Co-Founder and Managing Director, Suffolk Technologies; Dustin DeVan, Operating Principal Suffolk Technologies; Jit Kee Chin, Co-Founder and Managing Partner, Suffolk Technologies; Puneet Mahajan, Managing Partner, Suffolk Technologies; Sean Wrenn, Research Analyst, BuiltWorlds
Following John’s address and a short video highlighting the vision of Suffolk Technologies, Jit Kee was given the spotlight to express her team's gratitude to all who made this inaugural fund possible.
“We’re just now seeing the new dawn of what technology can do for this industry”
Jit Kee Chin, Executive Vice President, Chief Data and Innovation Officer, Suffolk Technologies
Beyond being committed to the success of their portfolio companies, partners, and investors, Chin discussed Suffolk’s dedication to the betterment of innovation broadly. The connections made and the conversations had in environments like that are truly the backbone of innovation in the industry. Stayed tuned for the Suffolk Technologies announcement of their 4th BOOST Accelerator Program Cohort on September 15th.
If you are interested in learning more about Suffolk Technologies Inaugural Fund, join us this September 19th through 21st in Chicago for BuiltWorlds' Americas Summit, where Jit Kee will provide her perspectives on data, AI, and analytics in construction! Follow the link below or contact info@builtworlds.com to register.
About Suffolk Technologies
Suffolk Technologies is a leading built environment venture capital firm investing in startups transforming the construction and real estate sectors. Suffolk Technologies leverages Suffolk Construction’s tech-forward construction business ($5B annual), innovation testbed/job sites, domain expertise, and trade networks to accelerate the development of new technology products and to scale their adoption across the ecosystem. Since 2019, Suffolk Technologies has backed over 22 companies from seed through growth stages across automation and robotics, supply chain marketplace, sustainability, financial technology, and smart building themes.
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