Brick & Mortar Ventures launches $97M fund to back construction tech startups

Before founding Brick & Mortar, Darren Bechtel made angel investments in construction‑tech startups such as PlanGrid, BuildZoom, BuildingConnected and Rhumbix. These early wins showed him the sector’s potential, but he realized that a generalist angel approach was not scalable and that industry‑specific knowledge was needed to add real value.

In 2015 he launched Brick & Mortar Ventures, focusing exclusively on construction tech. By January 2018 the firm closed its first $97.2M fund, backed by construction industry LPs. The fund enabled $1‑4M investments, built a portfolio of 16 startups and created a pipeline of over 500 vetted companies, positioning the firm as a key investor in the space.

The firm closed a $97.2M fund, built a portfolio of 16 construction‑tech startups, and created a pipeline of over 500 vetted companies, enabling $1‑4M investments.

Darren Bechtel’s family background in construction and his early angel successes gave him confidence and deal‑flow access in a niche that generalist VCs overlooked.

Generalist angel investing lacked the scalability needed to support multiple construction‑tech startups effectively.

The construction industry’s complexity and regulatory environment meant that startups benefited most from investors with deep expertise and LP connections to potential customers.

Deep industry expertise and LP networks give a VC firm an edge in sourcing and supporting niche startups; focusing on a specific sector allows scalable, value‑added investing.

After closing its $97.2M fund, Brick & Mortar has invested in companies like Curbio, Fieldwire and Serious Labs, helping them scale. The firm continues to lead seed and Series A rounds across the US, Canada, Europe and Australia, and its LP network provides startups with industry insights and potential customers, reinforcing its role as a specialized construction‑tech investor.