Fund will also target investments in transformational digital twin solutions supporting the design, simulation, construction, and/or operations of physical infrastructure
Bentley Systems has established a $100 million corporate venture capital fund for investment into promising technology companies that address opportunities for infrastructure digital twin solutions for roadways, railways, waterways, bridges, utilities, industrial facilities, and other infrastructure assets.
According to a statement from the firm, Bentley iTwin Ventures fosters innovation by co-investing in startups and emerging companies that are strategically relevant to Bentley Systems’ objective of advancing infrastructure through going digital. The fund will also target investments in transformational digital twin solutions supporting the design, simulation, construction, and/or operations of physical infrastructure.
The company says the fund will invest in early and mid-stage companies that demonstrate the ability to develop applications and solutions that leverage and extend infrastructure digital twin opportunities, particularly in the public works and utilities, and industrial and resources, infrastructure sectors.
“Taking advantage of the momentum from Bentley Systems’ initial public offering, we are excited to expand our acceleration initiatives by formally launching the Bentley iTwin Ventures fund to support the growth of entrepreneurial companies dedicated to infrastructure digital twin solutions. Our iTwin Platform provides a scalable open-source foundation for technical and commercial innovation that will empower a vibrant ecosystem to creatively combine and connect what digital twins now make possible for infrastructure constituents,” said Bentley Systems’ CEO Greg Bentley.
The fund will also invest in opportunities which can leverage Bentley’s iTwin Platform and open-source toolkits, supporting subject matter expertise, commercial teaming, and/or global reach and relationships within the infrastructure engineering community, the statement explained.
He added: “Proprietary analytics, data services, benchmarking, and infrastructure-as-a-service commercial models, for instance, are not in Bentley Systems’ direct scope, but we are glad to have a stake in bootstrapping these future successes. Here’s to the fullest going-digital ecosystem for infrastructure digital twins!”