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Bedrock Energy Raises $12M Series A to Scale Geothermal Heating and Cooling

Energy Impact Partners

Funding Will Support R&D and Expanded Customer Deployments

AUSTIN, Texas–(BUSINESS WIRE)–Bedrock Energy, a geothermal heating and cooling startup, announced a $12M Series A led by Titanium Ventures. Energy Impact Partners and Sustainable Future Ventures joined alongside existing investors Wireframe Ventures, Overture Ventures, Toba Capital, Elemental Impact, First Star Ventures, and Cantos. The funding will support continued advancement of Bedrock’s technologies, as well as expanded deployment in Colorado, Utah, and neighboring states.

“Heating and cooling buildings is the largest energy expense in real estate, and geothermal HVAC can cut that energy bill in half, improve resilience, and reduce air pollutants for residents by 90%,” said Joselyn Lai, co-founder and CEO, Bedrock Energy. “Bedrock’s innovations make geothermal installations so affordable that real estate developers and owners across the US can generate a strong financial return and boost their property values, with just their HVAC choice. We’re grateful that our investors share our conviction about unlocking geothermal for widespread scale, and humbled that they consider Bedrock to be the right team for the challenge.”

Bedrock Energy has pioneered geothermal design and installation technologies, including advanced subsurface thermal simulation capabilities and an intelligent construction platform for geothermal borefield construction. The company’s deployment teams use these innovations to install geothermal heat pump systems for real estate owners at faster schedule, higher accuracy and performance, and stronger cost efficiencies. These systems can range from single-structure commercial buildings to connected district systems serving multiple lots. By unlocking scalable geothermal heating and cooling as a resilient, always-on category of distributed clean energy, Bedrock aims to save billions of dollars for both property owners and utilities alike.

“Geothermal energy has incredible promise as an always-on, 24/7 carbon-free source of power and heating and cooling. We believe that Bedrock Energy has developed several unique, integrated technologies that will dramatically open up the market for cost efficient geothermal heating and cooling of buildings and change the economics of this industry,” said Mark Sherman, Managing Partner for Titanium Ventures.

“With lighthouse expertise from the oil and gas sector, highlighted by co-founder and CTO Silviu Livescu’s experience as the Chief Scientist of Pressure Pumping at Baker Hughes, Bedrock is poised for significant growth,” added Albert Bielinko, Titanium Ventures Alumnus. “We’ve been so impressed by Jos, Silviu, and the early lead they have established in this space.”

In addition to energy savings, geothermal heating and cooling has an unparalleled impact on moderating power demand in extreme temperatures, bringing immense value to customers, utilities, and regulators alike. According to Oak Ridge National Laboratory1, adoption of geothermal heat pumps in 70% of U.S. buildings could avoid seven gigatons of carbon-equivalent emissions by 2050 and save 24,500 miles of transmission line construction by offsetting needs from the power grid.

“Amid the economy-wide trends of electrification across industries, reducing demand will only grow more critical in the years ahead,” said Jenny Gao at Energy Impact Partners. “We need to electrify quickly, yet deliberately; Bedrock exemplifies this approach as well as any company we’ve seen.”

In 2025, Bedrock plans to deploy new geothermal systems across Colorado, Utah, and other Mountain West states. This expansion builds upon the company’s recently completed project in Morgan County, Utah, and ongoing work on a district geothermal system coming online in 2025 for a new business park in Hayden, Colorado. The latter project is supported by the Colorado Energy Office, Colorado Department of Local Affairs, Northwest Colorado Business District, and Town of Hayden.

“Bedrock has been an excellent partner in the design and planning of our geothermal system. We are excited to leverage their drilling innovations to help us supply resilient geothermal heating & cooling energy for a flagship economic development project in a coal transition community,” said Mathew Mendisco, Town Manager of Hayden. “Tapping into renewable subsurface energy right on-site is key to expediting construction timelines, lowering energy costs, and creating resiliency in mountainous regions like ours. Geothermal may be a valuable driver of successful coal transition, and Bedrock will be a key company in making that a reality in Northwest Colorado.”

About Bedrock Energy

Bedrock Energy is a technology company transforming the heating and cooling of buildings, using geothermal energy to radically reduce costs for people and the environment. Bedrock designs, constructs, and delivers geothermal using novel drilling technologies that enable widespread, affordable, and accessible installations of carbon-free geothermal HVAC for urban real estate properties. This allows properties to reduce heating and cooling costs up to 50% and cut direct emissions to zero. To learn more, visit bedrockenergy.com.

About Titanium Ventures

Titanium Ventures Accelerates the Extraordinary – the venture capital firm fuels the growth of standout disruptors. In its first twelve years, 104 investments have generated 44 liquidity events including Auth0, BigCommerce, Box, Cloopen, CrowdStrike, DocuSign, GitLab, Nasuni, OpenGov and Snap. To date, Titanium Ventures’ Revenue Acceleration Platform has driven >USD$660M in revenue for its portfolio companies, extending their reach across the U.S., Australia, Asia, and the UK. In 2022, the firm announced the close of its third fund, bringing Funds Under Management to USD$1B. To see Titanium Ventures’ full portfolio and learn more, visit www.ti.vc.

1 US DOE and ORNL, “Grid Cost and Total Emissions Reductions Through Mass Deployment of GHPs in the US” (2024)

 

Contacts

Business Contact:
info@bedrockenergy.com

Media Contact:
Kristen Grossi
talkTECH
kristen@talktechcomm.com

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Family shareholders, managers of Lavollée Group, and Waterland join forces to create an independent leader in specialty ingredient distribution: SIDG

Waterland

Paris, 22 January 2025 – Lavollée, Firmalis, and Sipa A.Ch Berthier, key players in the distribution of specialty ingredients, have partnered with the investment fund Waterland to become the independent leader in the sector. The Group has strong roots dating back over 60 years and a vision focused on the life sciences sectors (food, nutrition, health, cosmetics, pharma, etc.) and industrial specialty applications (CASE, IFL, etc.). These three companies will form the core of a new European Specialty Ingredients Distribution Group: SIDG (Specialty Ingredients Distribution Group).

A growth partnership to build a pan-european leader
Waterland Private Equity has partnered with SIDG to strengthen and spur its growth, leveraging its expertise in the Group’s target markets and its experience in supporting midsized companies, with European ambitions. This partnership will rely on a sustained growth strategy that will respect Lavollée’s family business model and DNA. SIDG will maintain the know-how and commitment of the historic teams, who were keen to invest in this partnership alongside Waterland and Hervé ORY-LAVOLLEE who will continue as Chairman and CEO of SIDG.

“The specialty ingredient and chemicals distribution industry faces significant challenges and opportunities, which will require adaptations and investments in the near future. To address this, it is key for the Lavollée Group to partner with a player able to support the group at a faster pace. The alliance with Waterland will allow us to develop a network of companies similar to ours, both in terms of their model and their management. This collaboration is based on the same philosophy as Waterland’s: maintaining teams in place and preserving their strengths i.e. process simplicity, agility, responsiveness, transparency with our partners, and therefore, efficiency,” said Hervé ORY-LAVOLLEE, Chairman & CEO of the Lavollée Group.

“This acquisition marks a new milestone for Firmalis and represents a unique opportunity to continue growing and developing our expertise within a strong financial backing. We remain fully committed to offering our customers the highest quality ingredients, flavors, and technical support, while continuing our mission with the same values and vision. We are very excited to work with Waterland to build the future of our Food & Nutrition business units. This strategic alliance will strengthen our market position, accelerate our growth, and continue our mission of innovation in the sector,” explained Mathieu Tixier, BU Manager of Firmalis.

“We are delighted to be actively involved in the development of Lavollée, Firmalis, Sipa A.Ch Berthier, and the SIDG group. This partnership is rooted in a unique combination of skills and know-how to build a pan-European player in specialty ingredients distribution. We are confident that supporting this family business, that shares our values, will be a huge success,” said Louis Huetz and Xavier Rehman Fawcett, Partner and Principal at Waterland Private Equity.

About SIDG
Specialty Ingredients Distribution Group (SIDG) is a group engaged in the distribution of specialty ingredients, with deep expertise in life sciences sectors (food & nutrition, cosmetics, pharmaceuticals, as well as raw materials for fragrances and flavors) and industry (coatings, adhesives, polymers, lubricants, water treatment, chemicals, and minerals).
Supported by Waterland, an internationally recognized investment fund known for backing high-ambition projects, SIDG is led by the Lavollée family and its historic shareholder managers. SIDG was created to unite the strengths of Lavollée, a historic player, and Firmalis, a specialist in food and nutrition. Together, they are building a future focused on excellence, innovation, and responsibility.

Our Brands, Our Foundations:
– Lavollée
With over 60 years of recognized expertise, Lavollée serves the life sciences sectors (cosmetics and pharmaceuticals) and industry (CASE, paints, IFL, chemicals, and H&I).
– Firmalis
A reference in nutrition and food, Firmalis provides tailored solutions to the growing needs of the markets, always with a focus on innovation and quality.
– Sipa A.Ch. Berthier
A renowned distributor based in Grasse for over 60 years, specializing in the distribution of raw materials for the fragrance and flavor (F&F) industries.
Our Vision:
We aim to strengthen our activities in our historical markets while exploring new opportunities with a measured and sustainable approach. By placing people, expertise, flexibility, and innovation at the core of our priorities, we aim to be a trusted partner in driving the transformation of the industries we serve.
Our Commitments:
• Quality and Expertise: We select products meeting the highest standards to ensure reliable and effective solutions.
• Innovation and Anticipation: We develop offerings tailored to new consumer and industry expectations, integrating more sustainable solutions.
• Corporate Social Responsibility (CSR): We are committed to reducing our environmental footprint, promoting responsible supply chains, and valuing environmentally respectful practices.
• Sustainable Partnerships: With a focus on trust and transparency, we build strong, long-lasting relationships with our clients, suppliers, and collaborators.

 

Press Contacts:
Naël Madi – waterland@the-arcane.com | +33 6 21 93 22 14
Laurence Van Doosselaere – vandoosselaere@waterland.be | +32 473 88 05 21

Categories: News

Star Vision partners with global private equity firm CVC

CVC Capital Partners

A Partnership Deal to Accelerate Global Expansion

Star Vision, the operator of Korea’s leading colour contact lens brand OLENS, has forged a strategic partnership with leading global private markets manager CVC.

This bilateral deal was recently signed, where the existing investors PS Alliance and Pearl Investment have agreed to sell their entire 49% stake in Star Vision to CVC. The transaction values the company in the upper KRW 600 billion range. PS Alliance and Pearl Investment had initially purchased their stake from VIG Partners in June 2022.

Star Vision has demonstrated consistent growth both in Korea and overseas. In Korea, the company prioritizes sustainable growth by providing robust support for its franchisees instead of merely increasing the number of stores. This approach has fostered strong and sustainable relationships with franchise owners over the past 14 years, a strategy that will continue to solidify the company’s leading position in Korea.

Star Vision has also maintained strong growth in the overseas markets, entering the Japanese market in late 2022 and OLENS quickly becoming one of the top selling brands. The company operates over 400 outlets across Asia, including approximately 20 locations each in Hong Kong and Taiwan.

Star Vision chose CVC as the most suitable partner to support the company’s continued growth, expansion in the global market, and evolution into a leading global K-beauty and K-contact lens brand.

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Ratos consolidates construction operations in new company – Sentia

Ratos

Sentia marks the creation of a leading Nordic construction group with a focus on projects with the public sector and major private sector customers. Sentia includes the subsidiaries HENT, with operations in Norway, and SSEA Group, with operations in Sweden.

The consolidation will create better conditions for sharing expertise and collaborating on large, complex projects in Norway and Sweden, enabling the subsidiaries to develop and become more competitive.

“Basically, the two companies have performed well and proved their strength, and now they will have an even better foundation. HENT and SSEA Group already collaborate, and we have seen clear synergies – not least in terms of sales. The consolidation is a natural next step to create an even stronger platform to drive growth, while maintaining good profitability. Together, the companies will have a greater impact on the Nordic construction market,” says Jonas Wiström, President and CEO of Ratos.

“Both subsidiaries will become stronger by sharing their experience, particularly in project development and collaboration/partnering. We will have a larger network of customers, a broader market platform, a larger supplier network and greater flexibility in terms of expertise and resources. Sentia will prioritise responsible growth, with a focus on safety and sustainability,” says Jan Jahren, President and CEO of HENT and Sentia.

“We share a corporate culture centered on being a team player, having short decision paths, engaging in continuous learning and having a strong desire to deliver results. The best testament to the value we can create together is the successful projects we have already collaborated on, such as Sara Kulturhus in Skellefteå, Kunskapsstaden in Kiruna and Ersta Hospital in Stockholm. All of these were large, complex projects and were handed over to very satisfied customers. Through Sentia, we will be able to deliver more successful projects and become more competitive in major tenders,” says Christian Wieland, CEO of SSEA Group and Vice President of Sentia.

HENT and SSEA Group are continuing to operate under their own brands in Norway and Sweden, but as subsidiaries of Sentia. Jan Jahren remains the head of the subsidiary HENT and is also President and CEO of Sentia, while Christian Wieland is continuing to lead the subsidiary SSEA Group (including SSEA, Vestia and Kiruna Målbygg) and serves as Vice President of Sentia.

About Sentia
The consolidation of HENT and SSEA Group, under the now joint parent company Sentia, took place in December 2024. While the subsidiaries operate locally under decentralised structures in Norway and Sweden, the consolidation will create a stronger platform for growth with robust profitability. By combining the strengths of both companies, they will be better positioned to secure more large, complex projects in a broader Nordic market.

HENT had sales of NOK 9.5 billion 2023 and approximately1,270 employees. The company has its registered office in Trondheim, but operates across Norway and has around ten active billion-krone projects. Examples of projects include Norway’s largest university building (the new life sciences building at Oslo University), two blocks in the new government district in Oslo, parts of the Fornebubanen, the Norwegian Ocean Technology Center, and six ongoing hospital projects. HENT is also building Aker’s new head office in Stavanger, which will be Norway’s largest office building. HENT’s customers include a mix of the largest public and private sector developers in Norway.

SSEA Group had sales of SEK 2 billion 2023 and approximately 150 employees. The company has its registered office in Gothenburg, but operates across Sweden. Examples of ongoing and completed projects include Ängelholm City Hall, and Foajén, one of Malmö’s most impressive office buildings, as well as several renovation projects at Landvetter Airport. SSEA Group’s main strengths involve the construction of public sector buildings, such as schools and other types of premises intended for public activities. SSEA Group also builds high security facilities. The company – whose regular customer surveys show a very high level of customer satisfaction – primarily serves the public sector and also has repeat business from major private sector developers.
www.sentiagruppen.com

For more information, please contact:
Josefine Uppling, VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 15 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales (September LTM). We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in Execution and It’s All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Lonsec Endorses Coller Capital as a Trusted Leader in Private Equity Secondaries

Coller Capital

January 22, 2025 – Coller Capital, a global pioneer in private equity secondaries, has been awarded a ‘Recommended’ rating for its Private Equity Secondaries Fund by Lonsec, a leading Australian investment research and ratings firm.

This recognition reinforces Coller Capital’s commitment to delivering innovative and tailored solutions for Australian investors, enabling greater access to global private markets.

Unlocking liquidity and growth for Australian investors

As private equity secondaries continue to gain traction in Australia, the Fund is designed to meet the specific needs of high-net-worth investors, offering monthly liquidity and institutional-grade portfolio construction.

“This recognition by Lonsec is a testament to Coller’s innovation and leadership in secondaries,” added Jake Elmhirst, Global Head of Private Wealth Secondaries Solutions at Coller Capital. “Our Fund provides Australian investors with a unique combination of growth potential, diversification, and liquidity – all key attributes for navigating today’s market environment.

“We believe that we are leading the way in redefining private equity access for the Australian wealth sector, delivering solutions that align with investor goals and our firm’s commitment to excellence,” concluded Elmhirst.

Strengthening leadership in private equity secondaries

Private equity firms take equity stakes in private, unlisted companies; these stakes are ‘primary’ investments, and ‘secondary’ transactions are when they are traded. Secondary transactions offer the initial investors the opportunity to exit positions early, providing much-needed liquidity or capital flexibility.

The Lonsec rating highlights the strength of Coller Capital’s dedicated secondaries investment approach, supported by more than three decades of expertise and a global presence across nine offices.

The Private Equity Secondaries Fund offers Australian investors a pathway to enhanced portfolio diversification and attractive risk-adjusted returns.

Combining limited partner (LP)-led transactions with general partner (GP)-led opportunities, the Fund’s structure reflects the evolution of the secondaries market, addressing investor demand for liquidity without compromising on performance potential.

Backed by Coller Capital’s proprietary sourcing network and rigorous underwriting processes, the Fund delivered exposure to 430 underlying companies, diversified across industries and geographies.

“Lonsec’s endorsement underscores the strength of our approach in delivering high-performing private equity strategies tailored to Australian investors,” said David Hallifax, Head of Australia and New Zealand Private Wealth Distribution at Coller Capital.

“By addressing barriers such as liquidity and accessibility,  we believe we are setting a new benchmark for private wealth clients in this region.”

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Inflexion makes strategic minority investment in Baker Tilly Netherlands

Inflexion

Inflexion, a leading European mid-market private equity firm, is pleased to announce that it has agreed a minority investment in Baker Tilly Netherlands, a leading accountancy and advisory firm. The investment is being made by Partnership Capital III, Inflexion’s dedicated minority fund.

Baker Tilly Netherlands is an independent member of Baker Tilly International, one of the 10 largest accountancy and consultancy networks in the world. The Baker Tilly network provides advice and support across tax, advisory, assurance and legal in 141 countries. Inflexion will make a minority investment into Baker Tilly Netherlands to support its growth plans in the region.

Baker Tilly Netherlands has seen significant organic growth, and has an ambitious strategy to consolidate the fragmented local market and grow further through acquisition. The business also plans to expand its services and scale its business model, allowing clients to continue to receive a high-quality service and benefit from investment in quality, product innovation and digitalisation.

Inflexion will use its experience in growing businesses acquisitively, alongside its deep sector expertise, to support the management team to achieve their goals. In the last few years, Inflexion has made a number of investments in the professional services sector, including accountancy and taxation service provider TC Group, health and safety management consultant dss+, legal services firm DWF, governance, risk and compliance services and software provider GRC.

The management team at Baker Tilly Netherlands has a clear and ambitious vision for the future of their business. We are pleased how the unique flexibility of our minority strategy has allowed us to structure a partnership that enables Baker Tilly to benefit from the value-add of a strategic investor, whilst keeping control within the partner group.

David Whileman, Head of Partnership Capital, Inflexion

We are delighted to be able to bring our regional and sector expertise together to support this investment into Baker Tilly. The accountancy sector is seeing significant consolidation and we believe that Baker Tilly is well placed to take advantage of this opportunity. We look forward to supporting the team as they continue to grow the business.

Sander Ruijter, Head of Benelux, Inflexion

We believe that Inflexion is the ideal partner to support our future ambitions. They will support our growth and development not only with capital but also with highly relevant expertise and strategic support. Our partnership with Inflexion will enable us to accelerate our growth as an independent company and through acquisition.

Ronald Hoeksel, CEO, Baker Tilly

The transaction will be submitted to the Netherlands Authority for Consumers and Markets. Baker Tilly is also still in consultation with the Dutch Financial Markets Authority and will seek advice from its Works Council.

Contact

Sarah Gestetner

Partner

T. +44 (0)20 7487 9820

E. sarah.gestetner@inflexion.com

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SET Ventures exits Sensorfact to ABB

SET Ventures

SET Ventures has exited Sensorfact to ABB. Acquiring Sensorfact, a fast-growing energy management company headquartered in Utrecht, Netherlands, will further expand ABB’s digital energy management offering. The deal is expected to close in Q1 2025. Financial terms were not disclosed.

Established in 2017, Sensorfact offers a scalable software-as-a-service (SaaS) solution that helps small and medium-sized enterprises use AI in their operations and energy management to lower costs and increase efficiency. The company has more than 250 full-time employees in Utrecht, Amsterdam, Barcelona and Berlin and serves more than 1,900 customers across Europe.

SET first invested in Sensorfact in 2022 after being impressed by the drive of the founding team to build a disruptively easy-to-use product and highly effective sales machine. SET then followed on in Sensorfact’s recent €25M fundraise which saw the company reach highly ambitious growth targets and end in a great exit to ABB. Julia Padberg, Partner at SET Ventures and board member at Sensorfact says:

“Sensorfact has established itself as the European market leader in AI-powered industrial energy efficiency solutions and they are on a mission to eliminate all industrial waste. Partnering with ABB’s expertise, strong brand and global customer base will further accelerate Sensorfact’s growth. It has been inspiring to work with a management team that is so much in control of their operations and forecasts and that continuously plays into new industry trends with its innovative solutions. I will follow their progress within ABB with great interest.”

Massimiliano Cifalitti, President of ABB’s Smart Power division, said: “ABB and Sensorfact are on a mission to help companies improve their energy efficiency, reduce maintenance costs and boost production. ABB is expanding its portfolio of energy management solutions that use big data and AI to make electrical distribution and energy management both efficient and intelligent. This acquisition advances our digital strategy and provides an innovative way for customers to digitalise their manufacturing operations – helping them to become leaner and cleaner.”

Sensorfact’s SaaS solution includes plug-and-play sensors that measure consumption on machine-level and connect to a smart software platform. The company uses algorithms to analyse the data, identify energy-saving opportunities and provide easy-to-implement advice that is unique to each customer’s operations.

Sensorfact CEO Pieter Broekema said: “Sensorfact provides a single smart factory platform that enables customers to easily collect utility and production data and to reduce costs and carbon emissions. We help customers achieve significant savings and continue to innovate to help customers further reduce their industrial waste. We are one of the market leaders in Europe, and together with ABB we will bring our solutions to new global markets, faster.”

The International Energy Agency (IEA) report, Energy Efficiency: The Decade for Action, states that the world must double energy efficiency progress in the next decade in order to minimise the environmental impact of growing global energy demand. The report highlights the importance of leveraging digital innovation to drive smarter energy management.

 

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For media enquiries please contact:

Hayden Young

Head of Marketing

haydenyoung@setventures.com

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3i invests in OMS Prüfservice, a tech-enabled service provider for testing electrical systems and equipment

3I

3i Group plc (“3i”) today announces it has agreed to invest in OMS Prüfservice (“OMS”), the largest specialised service provider in testing electrical systems and equipment for B2B customers in the DACH region.

OMS provides electrical testing and certification services for B2B customers, an attractive end-market underserved by generalist providers that focus on larger enterprise customers. OMS has a fully-tailored, proprietary software platform, INSPEKTRA. This enables OMS to digitalise and automate its testing processes, maximising efficiency and allowing OMS to optimise its services down to an individual customer level.

OMS operates from 43 locations across Germany, Austria and Switzerland. This strong local presence, combined with its technology-driven processes, allows OMS to deliver high-quality services with unparalleled customer proximity.

OMS’s market-leading operations, widespread branch network and data-driven processes have generated a c.30% sales CAGR since 2019. The company is well positioned for future growth due to its geographic footprint, the increasing digitalisation of workplaces and increased outsourcing due to the demand for skilled technicians.

3i is investing to drive further growth in OMS’s core business while exploring new opportunities, such as testing electric vehicle charging infrastructure and photovoltaic installations.

Micha Erz, CEO, OMS Prüfservice, said: “We are very pleased to be partnering with 3i. It has a strong track-record of scaling high-growth, international companies and its experience in the testing, inspection and certification sector will be invaluable. With its support, we look forward to broadening our service portfolio to deliver even greater value to our customers and to address evolving needs in areas such as e-mobility. In addition, this partnership will enable us to achieve sustainable growth, create exciting opportunities for our employees and foster a strong, innovative and collaborative workplace culture.”

Peter Wirtz, Head of Private Equity, 3i, said: “As a value-added, tech-enabled outsourced service provider, OMS sits at the core of our Services and Software strategy. OMS combines an extensive footprint, best-in-class operations and a unique software platform to create a market-leading offering. We have been following their success for some time and are looking forward to partnering with Micha Erz and the team to capture the significant opportunities which lie ahead.”

 

-Ends-

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For further information, contact:

3i Group plc

Kathryn van der Kroft
Media enquiries

Silvia Santoro
Shareholder enquiries

  

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com

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Kraaft – Why We Invested

Dawn

Construction is synonymous with low profitability – but at enormous scale. Worth $13 trillion globally in 2023 representing 7 percent of global gross output¹, the sector has seen productivity stagnate for decades with single digit profit margins permitting only modest investment in digitisation.  Companies typically invest 1 to 2 percent of their revenue in IT, compared with the 3 to 5 percent average across other industries². This has perpetuated the cycle of stagnation, but also presents an opportunity to transform the sector. A huge amount of value would be created with any innovation that delivers even a modest improvement in either revenue or operating costs – let alone one that could address both….

Enter Kraaft, which quickly and easily improves operations and helps construction companies make more money.

Founded by Thomas Reygagne (CEO), Marc Nègre (CPO) and Cédric Boidin (CTO) in Paris in 2020, Kraaft offers a one-stop mobile “super app” for managing construction projects. It solves the everyday problems with managing construction projects that eat away at profit margins: communication issues between HQ and site; safety hazards; complexity; lack of needed information; and lack of recording of change orders that can drive important additional revenue.

Kraaft centralises construction site activity with real-time group conversations, and features interactive project management tools for planning, photo geo-tagging, safety checks, and AI-powered workflows. With Kraaft, the head office knows exactly what is going on with projects on-site in real time, and has clear records thanks to easy report-generation and filing. Site managers automatically have their daily logs captured rather than having to re-key paper checklists or work through WhatsApps when they get home. And the tool allows firms to quickly prove they are hitting health and safety requirements and secure contracts – a key issue in the UK, one of Kraaft’s new markets. Finally, the tool allows for easy tracking and approval for change orders, avoiding disputes and delivering incremental revenue.

In short, Kraaft helps construction companies make more money. 

Construction is powered by people, so success in construction tech means success in making working lives easier. So it is crucial to the company’s success that as well as enhancing profit margins from day one, Kraaft is inexpensive to implement and construction workers actually like using the platform.

Kraaft is as accessible and easy to use as WhatsApp; it requires no user training and has already seen a very organic adoption on construction sites across Europe. It genuinely makes workers’ jobs smoother and brings joy in doing so: people have been using Kraaft for team-building as well as work purposes. Construction teams now use Kraaft to share beautiful mountain views from remote sites, celebrate birthdays, and organise after-work drinks. There are countless great, human stories with this product (not even including us on the deal team, sharing pictures from our Eurostar through to Paris for lunch with the Kraaft founders!)

This is just the beginning for Kraaft and its brilliant founding team.

Together, Thomas, Marc, and Cédric deliver tireless execution, empathic and successful customer acquisition, and the technological know-how to develop Kraaft even further and take it to the next level. They will use their Series A round to fund the development of new features – including API and Key Integrations to allow Kraaft to seamlessly connect with major US-based industry platforms like Procore – and accelerate growth across Europe, starting in the UK and Germany. Longer term, Kraaft plans to enter the US and Canadian markets. The company has already secured four North American clients without investing anything in marketing or promotion, and we are confident their success to date is just the start of a global journey.

We look forward to working alongside our friends Brick & Mortar, Chalfen Ventures, Stride VC and OSS Ventures as the Kraaft team takes on this enormous market, and urge everyone to look out for what is being Kraafted on the streets around you!

¹https://www.mckinsey.com/capabilities/operations/our-insights/delivering-on-construction-productivity-is-no-longer-optional
²“Gartner top strategic technology trends for 2022,” Gartner, October 2021.

 

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Coller Capital Expands Asia Pacific Presence with Singapore Office and Peter Wu joins Collers’s Private Wealth team

Coller Capital

Singapore, 21 January 2025 – Coller Capital, the world’s largest dedicated private market secondaries manager, has announced the establishment of its Singapore office, expanding the firm’s global footprint to serve its growing institutional and private wealth investor bases in Southeast Asia. Peter Wu, also joins the firm as Head of Product Management, Private Wealth, based in Singapore.

Jeremy Coller, Chief Investment Officer and Managing Partner of Coller Capital, commented: “The market for Asia Pacific private capital is rapidly maturing with rising market volumes, innovative transactions and a growing talent pool. Opening the Singapore office extends our commitment to the region and is another milestone in delivering our secondaries solutions to both institutional and private wealth investors in the Asia Pacific region.”

Coller Capital’s Singapore office is its fifth location in Asia Pacific alongside Hong Kong, Beijing, Seoul and Melbourne. Its Hong Kong office was opened in 2012 and serves as the firm’s hub for the region.

Peter Kim, Partner and Head of Asia and RMB, commented: “The Southeast Asian market presents significant opportunities for our business, with a growing appetite for secondaries among institutional LPs and private wealth investors. Our expansion into Singapore will allow us to meet this strong demand for investment solutions that offer enhanced liquidity, risk mitigation and diversification. We are delighted to welcome Peter to Coller Capital as his extensive experience in private wealth products will be invaluable.”

Mr Wu, who will be joined by two local investor relations colleagues, will work closely with Coller’s global Private Wealth Secondaries Solutions (PWSS) team to support the global expansion. Launched in 2023, PWSS provides private wealth investors access to the private equity and private credit secondaries market through a diversified, institutional-grade quality portfolio. In Singapore, Coller Capital will market funds to institutional and private wealth investors indirectly through licensed intermediaries such as private banks.

Mr Wu brings over 14 years of global industry experience and was previously the Global Head of Product Control at Partners Group, where he led product operations for private markets funds, with a focus on private wealth offerings. Prior to that, he spent seven years at BDO, managing audit and consulting engagements for global companies.

Coller Capital has offices in London, New York, Hong Kong, Beijing, Seoul, Luxembourg, Zurich, Melbourne, Montreal and Singapore. The firm has US$36 billion under management and 34 years of experience in the secondary private capital market.

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