What investment strategy does Foundamental focus on?

Foundamental focuses on VC strategies in the private equity space.

How many portfolio companies does Foundamental have?

Foundamental has 43 active portfolio companies and 6 completed exits and 3 funds tracked on GP Intel.

Where is Foundamental headquartered?

Foundamental is headquartered in Berlin, Germany.

When was Foundamental founded?

Foundamental was founded in 2019.

What sectors does Foundamental invest in?

Foundamental invests across Software, Industrials, Business Services.

What are Foundamental's recent exits?

Recent realized exits by Foundamental include: SafeAI (2025) to Pronto.ai; Dekoruma (2024) to Blibli (Djarum Group); Tul (2024) to Sooper; Reinvent (2022) to GC Gruppe; HoloBuilder (2021) to Faro Technologies; Indus.ai (2021) to Procore Technologies.

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Foundamental

Berlin, Germany·Founded 2019·

Venture Capital

·foundamental.com

Foundamental is a Berlin-founded global venture capital firm investing exclusively in AEC (architecture, engineering and construction), construction technology, heavy supply chains and lot-size-one manufacturing. Founded in January 2019 by Patric Hellermann, Shubhankar Bhattacharya and Adam Zobler, it backs pre-seed to Series B founders across Europe, Asia-Pacific, North America and Latin America with first cheques of roughly USD 0.5-5M. Its portfolio spans 145 investments across 22 countries and includes unicorn Infra.Market.

AUM

–

Funds

vintages 2019–2024

Portfolio

Exits

Foundamental is a Berlin venture capital firm with 43 active companies and 6 exits.

SectorsSoftware Industrials Business Services

Key takeaways

·6 exits in the last 5 years · consistent DPI cadence.
·Average hold across 6 realized deals: 3 years.
·Top sector focus: Software (33% of portfolio).
·Fund cadence: ~3Y between vintages · last raise 2024.

Sector breakdown

49 companies

Software

16 · 33%

Construction

8 · 16%

Logistics

8 · 16%

SaaS

6 · 12%

Deep Tech

3 · 6%

PropTech

2 · 4%

Fintech

2 · 4%

E-commerce

2 · 4%

Geography breakdown

16 geographies

13 · 27%

India

11 · 22%

Germany

5 · 10%

Singapore

4 · 8%

Australia

3 · 6%

Netherlands

2 · 4%

France

2 · 4%

United Arab Emirates

1 · 2%

Key facts

HQBerlin, Germany

Founded2019

Employees13+

Websitefoundamental.com

Recent exits

Foundamental sold SafeAI to Pronto.ai in 2025 after 6 years.

Foundamental sold Dekoruma to Blibli (Djarum Group) in 2024 after 4 years.

Foundamental sold Tul to Sooper in 2024 after 3 years.

Foundamental sold Reinvent to GC Gruppe in 2022 after 3 years.

Partners

Patric HellermannGeneral Partner (Co-founder), Europe

Coverage notes

3 funds tracked, 49 portfolio companies (43 active · 6 realized). Verified weekly from public filings and deal announcements.

Investment team

Senior partners. Hand-checked from public filings and the firm's own site.

Patric Hellermann

General Partner (Co-founder), Europe

Funds & portfolio

Every fund Foundamental has raised, with its portfolio companies. Hand-checked from public filings.

3 funds

Fund

Strategy

Vintage

Size

Assets

Exits

Foundamental Fund III

VC2024€110M4 assets

2024 · 2yr

€110M

–

Unrealized

4 held

Company	Entry
Aeria Software · US	2024
Faktus Software · Germany	2024
IndiFrame Construction · India	2025
Marrfa PropTech · United Arab Emirates	2024

Foundamental Fund II

VC2022€78M22 assets

2022 · 4yr

€78M

–

Unrealized

22 held

Company	Entry
CalcTree Software · Australia	2023
Conversant Software · US	2023
Cutr Software · Netherlands	2022
Desteia Logistics · Mexico	2023
Earlytrade Fintech · Australia	2022
Enter Software · Germany	2022
GoCement Construction · US	2022
GoodHome E-commerce · India	2022
Jumba Construction · Kenya	2023
Mattoboard SaaS · US	2022
Metalbook Logistics · India	2022
Monumental Deep Tech · Netherlands	2022
Nuqlea Construction · Argentina	2023
PermitFlow SaaS · US	2022
Plans Software · Denmark	2022
PowerUs HR Tech · Germany	2022
Prolance Software · India	2022
Rayon SaaS · France	2022
Reneo ClimateTech · Germany	2022
Snaptrude Software · US	2022
Vahak Logistics · India	2022
Zaraye Logistics · Singapore	2022

Foundamental Fund I

VC2019€55M17 assets6 exits

2019 · 7yr

€55M

Unrealized

17 held

Company	Entry
011h Construction · Spain	2020
Ackcio Deep Tech · Singapore	2019
Brick & Bolt Software · India	2020
CarbonBuilt Construction · US	2021
Forge Software · US	2021
Graneet SaaS · France	2021
Handoff Software · US	2021
Infra.Market Construction · India	2020
Infraprime Logistics (IPL) Logistics · India	2019
Juno Software · US	2021
LocoNav Logistics · India	2019
Novade SaaS · Singapore	2020
Ofload Logistics · Australia	2020
Onsite SaaS · India	2021
Speckle Software · UK	2020
Tazapay Fintech · Singapore	2021
Wizfreight Logistics · India	2021

Realized

6 exits

Company	Entry	Exit	Type	Buyer	MOIC
Dekoruma E-commerce · Indonesia	2020	2024	Trade Sale	Blibli (Djarum Group)	–
HoloBuilder Software · US	2019	2021	Trade Sale	Faro Technologies	–
Indus.ai Software · US	2019	2021	Trade Sale	Procore Technologies	–
Reinvent PropTech · Germany	2019	2022	Trade Sale	GC Gruppe	–
SafeAI Deep Tech · US	2019	2025	Trade Sale	Pronto.ai	–
Tul Construction · Colombia	2021	2024	Trade Sale	Sooper	–

Frequently asked questions

What investment strategy does Foundamental focus on?: Foundamental focuses on VC strategies in the private equity space.
How many portfolio companies does Foundamental have?: Foundamental has 43 active portfolio companies and 6 completed exits and 3 funds tracked on GP Intel.
Where is Foundamental headquartered?: Foundamental is headquartered in Berlin, Germany.
When was Foundamental founded?: Foundamental was founded in 2019.
What sectors does Foundamental invest in?: Foundamental invests across Software, Industrials, Business Services.
What are Foundamental's recent exits?: Recent realized exits by Foundamental include: SafeAI (2025) to Pronto.ai; Dekoruma (2024) to Blibli (Djarum Group); Tul (2024) to Sooper; Reinvent (2022) to GC Gruppe; HoloBuilder (2021) to Faro Technologies; Indus.ai (2021) to Procore Technologies.