The infrastructure engineering software company, Bentley Systems Inc. has announced the establishment of Bentley iTwin Ventures to invest in promising technology companies addressing the emerging opportunity for infrastructure digital twin solutions for roadways, railways, waterways, bridges, utilities, industrial facilities and other infrastructure assets.
Bentley iTwin Ventures is a $100 million corporate venture capital fund that fosters innovation by co-investing in start-ups and emerging companies that are strategically relevant to Bentley Systems’ objective of advancing infrastructure through going digital. The fund will target investments in transformational digital twin solutions supporting the design, stimulation, construction and operations of physical infrastructure.
Bentley iTwin Ventures will invest in early and mid-stage companies that demonstrate the ability to develop applications and solutions that leverage and extend infrastructure digital twin opportunities, particularly in the public works and utilities, and industrial and resources. The fund will invest in opportunities that can leverage Bentley’s iTwin platform and open-source toolkits, supporting subject matter expertise, commercial teaming, and global reach and relationships within the infrastructure engineering community.
“Taking advantage of the momentum from Bentley Systems’ initial public offering, we are excited to expand our Acceleration Initiatives by formally launching the Bentley iTwin Ventures fund to support the growth of entrepreneurial companies dedicated to infrastructure digital twin solutions,” said Greg Bentley, CEO of Bentley Systems.”
“Our iTwin platform provides a scalable open-source foundation for technical and commercial innovation that will empower a vibrant ecosystem to creatively combine and connect what digital twins now make it possible for infrastructure constituents. Proprietary analytics, data services, benchmarking, and infrastructure-as-a-service commercial models, for instance, are not in Bentley Systems’ direct scope, but we are glad to have a stake in bootstrapping these future successes,” he added.
Bentley Systems worked with corporate venture capital firm Touchdown Ventures to establish Bentley iTwin Ventures. An initial investment in FutureOn was announced on October 16.