Construct Venture Research
Investment Thesis
Construct Venture is a corporate venture investor in the architecture, engineering and construction (AEC) sector. It was founded in 2018 by AF Gruppen, a Nordic contracting and industrial group, and OBOS, Norway's largest housing developer, to invest in ambitious early-stage and growth companies in construction technology (ConTech) and property technology (PropTech). The firm says its sector-specific focus separates it from traditional venture investors: it knows the industry, the acronyms and the know-how of construction projects, and uses that expertise both to evaluate startups and to help portfolio companies establish themselves in the industry. The stated goal is to be the preferred partner for early-stage tech startups in ConTech and PropTech.
Stage Focus
The sweet spot is companies in early commercialization, with a product or service in the final stage of testing and a defined customer base. The firm says it may also consider earlier and later stages. It prefers some existing traction in pilots, paying customers or other interest. Recent rounds in the portfolio (Findable Series A, Reduzer, OSC, 7Analytics) fit seed to Series A.
Check Size
The website does not disclose check sizes or fund size. Press shows Construct Venture participating in syndicates: Reduzer raised NOK 20 million with Momentum and Futurum Ventures, Findable raised NOK 108 million, and OSC raised NOK 30 million. Check size is left unset because no source states it.
Lead Tendency
The firm states it can be the lead investor but is happy to follow. Portfolio news shows it mostly investing alongside other funds, so lead tendency is recorded as both.
Recent Activity
- March 2025: Construct Venture, Momentum and Futurum Ventures invested NOK 20 million in Reduzer, emission reporting and reduction software for construction.
- September 2024: Findable, a portfolio company, raised a NOK 108 million Series A to expand internationally.
- August 2024: Vixel, a portfolio company, raised NOK 36 million including from Nysnø.
- March 2024: OSC raised NOK 30 million with Construct Venture among the investors.
- March 2023: Construct Venture invested in Ditio alongside Dovetail (backed by Ferd Impact).
- The firm moved into Construction City, a hub for the construction and real estate industry, in August 2025 and hosted its annual Portfolio Day in 2025.
- It also publishes an AEC technology adoption survey and report for the Norwegian market.
Portfolio Highlights
Active investments listed on the site: Rucoria (collaboration platform for residential construction), 7Analytics (AI flood risk modelling), Ditio (construction site information capture), Reduzer (greenhouse gas reporting and reduction), Noise Smart (in-ear hearing protection from SINTEF research), Parqio (garage access and mobility infrastructure), OSC (simulation and visualization), Vixel (VR collaboration for BIM and CAD) and Findable (AI document workflows for facility management), and AugmentCity (digital twins for urban planning). Exits shown: Spacemaker (acquired by Autodesk) and Naska.ai (continued journey with Field.ai).
Team
- Jan Fossgård, Managing Director: over 15 years in finance, investments and business development; established corporate ventures; board and operational support experience in growth companies.
- Investment Associate: role announced as TBA, focused on sourcing, evaluating and supporting investments.
Decision Process
The team is small and led by the Managing Director, backed by the two corporate limited partners. The firm says it works fast and agile at the startups' speed, and normally asks for a board seat or observer role. It says it never asks for exclusivity or special treatment.
Founder Preferences
Exceptional, committed teams with complementary skills and the drive to build a global leader, in markets large enough to scale quickly. The investment should be relevant to the partners (AF Gruppen and OBOS) so the firm can help through network and domain knowledge, such as providing projects for pilots. Financial return matters, so the potential for an attractive exit is part of evaluation.
Geographic Focus
Not geographically limited, but with emphasis on Nordic companies. It also looks at unique startups elsewhere that see potential in collaborating with Nordic actors. Portfolio companies include a Norwegian majority with international expansion (7Analytics in Boston, Findable internationally).
Gaps
Fund size, AUM, and check size are not disclosed on the site. Warm intro requirement is not stated; the site invites founders to reach out directly at [email protected].