Third Construction Technology Fund is being released by Fundamental, with a stronger focus on the Indian market.
Foundamental Launches Third Fund, Focusing on Construction Technology and India
Berlin and Mumbai-based venture capital firm Foundamental has announced the launch of its third fund, aiming for a final close by the end of calendar 2025. The firm, which was founded in 2019, has already made a name for itself by investing in over 70 companies across 22 countries.
The new fund, Fund III, will continue Foundamental's strategy of backing early-stage companies in construction, infrastructure, and heavy industry supply chains across Asia-Pacific, Europe, the Americas, and MENA. The investments will range between $500,000 and $5 million, and the fund will focus on construction technology and related project economy sectors.
According to one of the managing partners of Foundamental, Shubhankar Bhattacharya, the need for efficiency, transparency, and technology has never been greater in India as it undergoes a once-in-a-century transformation in infrastructure. As a result, India is positioned as a key market for Fund III.
Some of the notable global investments of Fund III include Enter (Germany), Snaptrude (US), Tazapay (Singapore), Monumental (Netherlands), and Speckle (UK). However, there is no relevant information in the search results regarding the notable global investments of Foundamental Fund III outside of its investments in India.
All investors from Fund I and Fund II have returned as LPs in Fund III, with 40% doubling their commitments and 60% more than doubling their allocations. This strong support from existing investors is a testament to Foundamental's success in the venture capital industry.
The commitments for Fund III were raised in record time, entirely from inbound demand and without the need for traditional fundraising roadshows; in fewer than 20 meetings. This rapid growth has allowed Foundamental to expand its presence to 22 countries and more than 75 markets.
Two of Foundamental's India portfolio companies, Infra.Market and Infraprime Logistics, are preparing public listings. These upcoming listings are a further demonstration of Foundamental's success in identifying promising early-stage companies.
In addition to Shubhankar Bhattacharya, the managing partners of the firm are Patric Hellermann. Together, they manage sector-specific investments across seven verticals: construction and building materials, infrastructure, CAD and engineering, renovation, supply chain and logistics for heavy industry, lot-size-one manufacturing, and aerospace, defence and shipbuilding.
With its third fund, Foundamental is poised to continue its successful track record in the venture capital industry, focusing on construction technology and related project economy sectors, particularly in India. Fund III ranks among the better-performing venture funds globally in its cohorts, following Fund I (2019) and Fund II (2022).
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