Brookfield launches VC fund for real estate

Brookfield Ventures, Brookfield Asset Management’s new venture fund, provided $15 million to BuildingConnected, a provider of software for real estate owners and general contractors. The investment makes the company’s total funding $53 million.

“Brookfield understands BuildingConnected’s vision to connect every business involved in the real estate and construction sectors and change how these industries communicate,” said Dustin DeVan, BuildingConnected CEO.

Across BuildingConnected’s network, more than $80 billion of new construction projects are bid on a monthly basis. More than 170,000 owners, general contractors and subs are active on the BuildingConnected platform monthly. The projects represent marquee builders like Clark Construction, Mortenson, McCarthy, StructureTone, Shawmut, Turner Construction, and others. BuildingConnected also works with owners and developers such as Brookfield, Panera Bread, UCSF, and Duke Realty.