“Construction tech actually outperforms, as an asset class, the entire venture market,” said Patric Hellermann, general partner at Foundamental, in a video accompanying the firm’s blog post. “So it’s not driven by a general ‘rising tides lifts all boats’ logic. In fact, construction tech goes anti-cyclical to where the total venture market is.”
Foundamental’s numbers emphasize what it calls the “crazy VC year of 2021.” During that time, construction technology funding reached a new peak of $8.7 billion, an annual sum that the firm hasn’t seen before or since.
