CEMEX Ventures, Mexican building materials giant CEMEX's corporate venture capital unit, has 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 better enable them to innovate within the construction industry. By giving visibility to start-ups that they are aware of, and might be of inte
CEMEX Ventures, Mexican building materials giant CEMEX’s corporate venture capital unit, has 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 better enable them to innovate within the construction industry.
By giving visibility to start-ups 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.
Gonzalo Galindo, CEMEX Ventures CEO, said: “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.”
“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.
