Zacua Ventures, a global venture capital (VC) fund focused on early-stage technology for the construction industry, has announced the closure of its inaugural fund.
The fund exceeded its initial $50m target by more than 10%.
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Its group of corporate limited partners (LPs) includes 19 companies with ties to the construction sector.
Volvo Group Venture Capital has invested in Zacua Ventures’ Builders Fund I. Other participants include Procore and CEMEX.
Established in 2022 by experts with a background in Cemex Ventures, McKinsey and Company, and Hilti Corporation, Zacua Ventures brings together 30 years of industry experience.
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The fund aims to invest in startups that focus on productivity, sustainability, and urbanisation within the construction industry.
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By GlobalDataOperating across North America, Europe, and the Asia-Pacific (APAC), Zacua Ventures has access to a wide range of technologies.
Zacua APAC and EU co-founder and partner Juan Nieto said: “Each pocket of the globe – Asia, Europe, North America, Latin America – is leading the way in different subsectors of construction technology; innovation hubs for robotics and for sustainability technology are thousands of miles apart.
“With our access to all these different markets, we’re uniquely positioned to play a major role in driving the evolution of the construction process.”
The company says it leverages its LP network and its team’s understanding of construction and investment to bridge the gap between startups and corporate investors to open new partnerships and growth opportunities.
Since its launch, Zacua Ventures is said to have become one of the most active construction VC companies globally, investing in more than a dozen startups.
The fund has also led a $9m seed round for Flexnode, a digital infrastructure company co-founded by Andrew Lindsey and Robert Mazer in 2019.
