US-based Suffolk Technologies, an institutional venture capital company affiliated with builder Suffolk, has raised $110m in commitments for its inaugural fund.

Suffolk Technologies Fund I will invest in businesses in the construction technology and property technology sectors that provide solutions for safer, sustainable, and efficient construction.

These companies deal with nationwide problems, including the current affordable housing shortfall, high emissions produced from construction and real estate projects, and the growing demand for efficient infrastructure investment.

Suffolk's chair and CEO John Fish said: “By raising money for this fund, investing in visionary entrepreneurs and startups in the construction technology space, and allowing for the testing and development of exciting new tech solutions on Suffolk job sites throughout the country, we are contributing to the innovation life cycle, adding value to our clients through more efficient projects and helping to redefine the built world for generations to come.”

Suffolk Technologies aims to support entrepreneurs seeking to transform the built environment with financing and operational assistance from affiliate Suffolk’s national construction and commercial real estate network.

It provides startups access to its construction expertise, including more than 2,300 in-house industry experts, over 100 project sites across the US, over 10,000 trade partners, and numerous architects, engineers, real estate owners, and financial services partners.

Suffolk Technologies’ team holds venture capital and industry expertise with credentials at McKinsey, Microsoft, General Electric, Fairhaven Capital, Dell, AMG National, and Suffolk.

In 2020, the company launched its BOOST programme, which connects industry leaders and Suffolk experts to assist built environment companies.