Launches Bentley iTwin Ventures to co-invest in digital twin ecosystem
Mumbai, NFAPost: Bentley Systems, Incorporated (Nasdaq: BSY), the infrastructure engineering software company, 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 which fosters innovation by co-investing in startups 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, simulation, construction, and/or operations of physical infrastructure.
Bentley iTwin Ventures will invest in early and mid-stage companies that demonstrate 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, infrastructure sectors.
The fund will invest in opportunities which can leverage Bentley’s iTwin Platform and open-source toolkits, supporting subject matter expertise, commercial teaming, and/or global reach and relationships within the infrastructure engineering community.
Bentley Systems CEO Greg Bentley said taking advantage of the momentum from Bentley Systems’ initial public offering, the company is excited to expand Acceleration Initiatives by formally launching the Bentley iTwin Ventures fund to support the growth of entrepreneurial companies dedicated to infrastructure digital twin solutions.
“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 possible for infrastructure constituents,” said Bentley Systems CEO Greg Bentley.
Bentley Systems CEO Greg Bentley said proprietary analytics, data services, benchmarking, and infrastructure-as-a-service commercial models, for instance, are not in Bentley Systems’ direct scope, but is glad to have a stake in bootstrapping these future successes. Bentley Systems CEO Greg Bentley said it is going to be the fullest going-digital ecosystem for infrastructure digital twins.
Bentley Systems worked with corporate venture capital firm Touchdown Ventures to establish Bentley iTwin Ventures. An initial investment in FutureOn a.s. (www.futureon.com) was announced on October 16, 2020.
Bentley iTwin Ventures is a corporate venture capital fund sponsored by Bentley Systems, Incorporated. It invests in and helps catalyze the growth of companies developing innovative technologies, products, and services which intensify the infrastructure digital twin ecosystem.
Bentley Systems’ Acceleration Initiatives was launched in 2020 to invest in new and incremental participants in open ecosystems to advance infrastructure digital twins. The Bentley Systems Acceleration Initiative is chartered to accelerate the creation and curation of digital twins, and to foster technologies and innovations so enabled, by nurturing new ventures, making minority investments through Bentley iTwin Ventures, and acquiring and expanding digital integrators.
Wholly owned investments to date include Digital Water Works, Digital Construction Works (joint venture with Topcon Positioning Systems), Virtuosity, and The Cohesive Companies. Bentley iTwin Ventures is a $100 million corporate venture capital fund which co-invests in entrepreneurial companies that are leveraging and expanding the infrastructure digital twins ecosystem; co-investments to date include FutureOn. Chief Acceleration Officer Santanu Das welcomes queries from potential ecosystem participants at www.BentleyAccelerationInitiatives.com
Bentley Systems (Nasdaq: BSY) is the infrastructure engineering software company. The company provides innovative software to advance the world’s infrastructure – sustaining both the global economy and environment. Bentley Systems industry-leading software solutions are used by professionals, and organisations of every size, for the design, construction, and operations of roads and bridges, rail and transit, water and wastewater, public works and utilities, buildings and campuses, and industrial facilities.
Bentley Systems offerings include MicroStation-based applications for modeling and simulation, ProjectWise for project delivery, AssetWise for asset and network performance, and the iTwin platform for infrastructure digital twins. Bentley Systems employs more than 4,000 colleagues and generates annual revenues of more than $700 million, in 172 countries. www.bentley.com