MADRID, SPAIN. MARCH 27, 2019.- CEMEX Ventures, CEMEX's Corporate Venture Capital Unit, announced today that it signed a collaboration agreement with TEKFEN Ventures, the investment fund of TEKFEN, a Turkish industrial conglomerate working in the construction, agriculture, manufacturing, and real estate sectors. Both companies have agreed to develop synergies between the parties to innovate the construction industry.
CEMEX Ventures and TEKFEN Ventures are committed to sharing their experience with one goal: fostering innovation in the construction and real estate industries. In this way, the two investment funds will work to invest in new technologies and innovative solutions to drive the revolution of an industry as traditional as the construction industry with a global focus. In addition, CEMEX Ventures and TEKFEN Ventures will coordinate agendas and events organized by each party, while developing joint events and participating in subsequent editions of events in a coordinated manner.
By giving visibility to startups that they are aware of, and might be of interest to the other, CEMEX Ventures and TEKFEN Ventures will facilitate the search for and implementation of innovative projects and solutions. By strengthening the flow of exchange of new business models, entrepreneurs will have access to a greater number of investors to support their solution.
CEMEX Ventures and TEKFEN Ventures create a perfect partnership because of their shared vision of the industry in which they operate, their international presence, and their strategic positioning as corporate venture capital units that aspire to strengthen their network. As Gonzalo Galindo, CEMEX Ventures CEO, states, "This type of alliance between two industries that fit together, as well as the construction and real estate industries, are key to finding new successful business models, TEKFEN Ventures also has a complete vision of the entire value chain and is a good partner to drive the construction revolution." In this way, the development of a community of experts made up of leading companies in the construction industry is evident.
"We're excited to partner with CEMEX Ventures, a peer that shares our vision of a more productive AEC industry. While TEKFEN and CEMEX primarily operate in different geographies, working together allows us to leverage our combined expertise to identify and support globally impactful innovation in building materials and technology for construction and real estate," said Sinan Uzan, President of TEKFEN Ventures.
The parties' relationships with different entities will generate stronger links within the construction, entrepreneurship, innovation, and new technologies ecosystem. This agreement invites new entities to continue the drive to revolutionize the sector.
About CEMEX Ventures
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and areas of opportunity for the construction ecosystem through sustainable solutions. CEMEX Ventures has created an open and collaborative platform to lead the construction industry revolution by engaging startups, entrepreneurs, universities, and other relevant stakeholders to address the industry's toughest challenges and shape tomorrow's value ecosystem. For more information on CEMEX Ventures,pleasevisit: www.cemexventures.com.
About TEKFEN Ventures:
Tekfen Ventures is the corporate venture arm of Tekfen Holding, a Turkish industrial conglomerate and leader in construction and agriculture. Tekfen Ventures invests in uniquely impactful technology and science companies that help build, feed, and power the world. Over the past 60 years, Tekfen has constantly been at the forefront of its areas of expertise. Tekfen Ventures is the next step in a long history of pioneering new technology and leadership across the construction, manufacturing, and agriculture sectors.
Last updated: Sep 25, 2019 at 05:39 pm CDT
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