Join us in this exciting episode of the Slice of Construction podcast, hosted by Jared S. Taylor! Our Guest: Patric Hellermann, General Partner at Foundamental.

What you’ll get out of this episode:

• Patric Hellermann shares why Foundamental focuses solely on early-stage construction tech investments worldwide.

• Discover the regional tech bottlenecks from India’s supply chain to the U.S.'s fragmented software landscape.

• Learn why local “avatars” are critical and why copying successful models across geographies rarely works.

• Gain insight into Hellermann’s top investment areas: robotics, pre-construction efficiency, and new data infrastructures.

• Understand his philosophy on long-term impact and the nonlinear nature of innovation in construction.

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Inside the Mind of a Global Construction Tech Investor

Patric Hellermann, General Partner at Foundamental, is not your typical venture capitalist. His journey from a trained energy economist to a dedicated investor in construction technology was driven not by sentimental ties to the AEC industry, but by rigorous top-down analysis. Spotting inflection patterns in venture capital allocation across sectors, he recognized a nascent explosion in construction tech — just as the global funding in the space passed $4.5 billion. Six years later, it hit $40 billion. The data didn’t lie.

Investing with a Global Lens

Foundamental invests early and globally — from India and Europe to the U.S. and Australia. According to Hellermann, this global scope offers an advantage: understanding that every market operates on a different cycle and has distinct bottlenecks.

• India: A booming market with a strong middle class but plagued by unpredictable supply chains. Ironically, this has made India a leader in construction material marketplaces.

• Europe: Starved for labor, it leads in construction robotics but struggles with integrating isolated data pools.

• U.S.: Strong software adoption has led to fragmented systems. The next step? Building cohesive data infrastructures instead of piling AI onto disjointed platforms.

Why Local Solutions Matter

Hellermann warns against the temptation of copying successful models from one market to another. Instead, he champions the creation of local “avatars” — solutions tailored to specific market dynamics. A marketplace model that thrives in India likely won’t survive in Europe or the U.S. without significant adaptations.

Bullish Bets and Founder Traits

What areas is Patric bullish on? On-site robotics (over off-site automation), pre-construction estimation tools, ERP migration, and authoring tools for architects and engineers top his list. Interestingly, he favors founders from software backgrounds over those steeped in robotics — a counterintuitive approach that’s yielded promising results.

The Long Game of Innovation

For Patric, venture capital has evolved beyond returns. Now, it’s about helping founders hit their inflection points — those rare, trajectory-altering moments. He likens it to watching millions of tennis matches to be present at the one that becomes legendary.

And as construction moves into what he calls its “second innovation cycle,” he’s placing his bets not on flashy AI agents, but on the unglamorous — yet crucial — infrastructure: harmonized data systems and smarter ERPs.

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