With more than 50 construction tech investments between them, few investors have been as active in the sector over the past several years as Darren Bechtel of Brick & Mortar Ventures and Jesse Devitte of Building Ventures. Not only have they been among the most prolific investors, but they have also already notched a host of impressive exits, including Assemble Systems, BuildingConnected, ConcreteSensors, HonestBuildings, and PlanGrid. In this discussion at BuiltWorlds Annual Venture Conference, the two reflected on how construction venture investing has grown and what they see in store for the coming years.
The two shared the perspective with other leaders at the event that investment interest in the Built sector has continued to grow through the period. They also equally observed that the number of industry startups in the sector is also growing, creating more opportunities for investors and presumably more competition for deals. The two spoke at length about who some of the new players are that are entering the market, where and how they are investing, what that means in terms of options for startups seeking investment, and what it all portends for the future continued growth of the sector.
Discussion of the Implications of Many More Investors, and Many More Investor Types
For startups interested in more of a flavor of the most active investors in the sector today, we offer our recently published Venture Investors 50 List. A quick scan reveals many of the new names and players discussed in the session. As we move into next year, we will look further at players and trends in the sector. Below is a rundown of upcoming sessions and topics for those interested.
More money entering the sector mean bigger deals afoot. One of the more interesting aspects of this discussion was the identification of different types of investors working at various stages of investment from early seed through to later stages and how different types of investors are able to work together to support each other and the startups through their phases of development. We’ll look more at these deals and how they are getting done in January when we publish our Top Deals List, but in the meantime, from the perspective of two of the industry’s leading investors, it seems clear that we are going to be in for much more activity in 2021.