- The collaboration aims to promote the development of new relationships & business models with the construction industry’s key players.
- Both parties would be working towards making investments in innovative solutions & new technologies to revolutionize the construction sector with a global focus.
CEMEX Ventures, the corporate venture capital division of CEMEX, has reportedly signed a new collaboration agreement with Turkish conglomerate, Tekfen Construction & Installation’s investment fund, TEKFEN Ventures.
Reports cite, under the terms of the agreement, both firms have agreed to generate synergies between the two entities to bring in innovation to the construction industry. The collaboration aims to promote the development of new relationships & business models with the construction industry’s key players.
According to a press release by CEMEX Ventures, under their common goal of bringing innovation to the industry, both investment funds would be working towards making investments in innovative solutions & new technologies to revolutionize, with a global focus, an industry that is as traditional as the real-estate & construction sectors.
Moreover, both parties would also be coordinating events & agendas organized by each of the parties while also hosting joint events & taking part in subsequent versions of the events in a highly-coordinated manner. Furthermore, by facilitating visibility to different startups the parties are aware of and also may be of interest to other, TEKFEN Ventures & CEMEX Ventures would be facilitating the search & implementation of several innovative solutions & projects.
The CEO of CEMEX Ventures, Gonzalo Galindo stated that this alliance between the two industries & the real-estate and construction industry are crucial for finding new business models that are successful. Galindo further added that TEKFEN possesses the entire vision of the complete value-chain & is an ideal partner that could help bring in revolution to construction.
According to reports, the agreement also invites new entities to contribute to the effort of driving the revolution of the sector. Financial information pertaining to the collaboration agreement has not been unveiled yet.