Cemex Ventures announced 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 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 CEO Gonzalo Galindo 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,” added 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.