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Berlin / San Francisco — Foundamental, the global venture capital firm dedicated to technology in the project-based economy, today announces that Dustin DeVan has joined as an Advisor Partner. On the Foundamental platform, DeVan will work with founders in North America as well as support global founders in breaking into the US project markets. DeVan co-founded BuildingConnected, the largest bid management and subcontractor qualification network in North America, and exited it to Autodesk for $275 million in 2019. He currently serves as Founder & CEO of Ediphi, a pre-construction platform building the pricing and decision infrastructure layer for commercial construction.
The appointment deepens Foundamental's North American presence as DeVan joins General Partners Patric Hellermann and Shubhankar Bhattacharya in deploying the firm's third fund.
Building the Intelligence Layer for the Project Economy
DeVan's path to Foundamental is grounded in two decades of building in construction: first as a general contractor on projects including CityCenter in Las Vegas and nuclear power facilities, then as a founder who built and exited one of the most consequential platforms in construction tech history.
His conviction is clear. The Project Economy is undergoing a fundamental shift: from static to dynamic systems, from isolated projects to connected data, from individual expertise to institutional intelligence. The industry hasn't yet defined its core data layer or its system of record for cost. Whoever builds that foundation won't just create software. They'll reshape how the built world gets delivered.
"Staying close to what's happening across project and capex markets has become as important as building within it. The most important innovation in construction is happening across a fragmented, fast-moving set of startups, and it's hard to see from within a single company or a single market," says Dustin DeVan, Advisor Partner at Foundamental. "Advising Foundamental creates that vantage point. The patterns you see across the global ecosystem feed directly back into building, sharpening decisions and avoiding mistakes that are otherwise invisible from the inside."
Operator Depth Meets Vertical Conviction
In his role, DeVan will work closely with portfolio companies to accelerate product-market fit, navigate construction's uniquely complex workflows, and strengthen Foundamental's North American activities across a portfolio that includes market leaders such as Infra.Market, Speckle, Metalbook, Monumental, Tazapay, Brick & Bolt, Handoff and Permitflow.
"As an operator, Dustin is one of the rare entrepreneurs who combines an impeccable instinct with unfair early access to the next generation of exceptional founders in the US market. Foundamental has earned a reputation for backing the non-obvious - and so has Dustin," says Patric Hellermann, General Partner at Foundamental.
"What makes Dustin exceptional isn't just the exit. It's his continued hunger to build excellence. He understands the hidden complexity of this industry better than almost anyone, and he has the credibility to open doors that stay closed for most," says Shubhankar Bhattacharya, General Partner at Foundamental. "We're excited to level up Foundamental alongside him."
About Dustin DeVan
Dustin DeVan is the Founder & CEO of Ediphi, a pre-construction platform building the pricing and decision infrastructure layer for commercial construction. Previously, he co-founded BuildingConnected, acquired by Autodesk for $275 million in 2019, and served as Head of Construction Strategy at Autodesk. He began his career as a general contractor, working across healthcare, energy, and large-scale commercial projects in the United States.
linkedin.com/in/dustind01/
About Foundamental
Foundamental is a vertical technology investment firm dedicated to backing category-creating companies in the project economy and capex-heavy sectors, such as infrastructure, construction, CAD and 3D, building materials, shipbuilding, and heavy-industry supply chains, and also invests in adjacent areas such as lot-size-1 manufacturing and aerospace and defence where project characteristics dominate. Our global team chases vertical singularities, those unique, hard-to-evaluate opportunities that generic investors overlook early but are obvious to industry insiders. From our headquarters in Europe, we invested across 22 countries and seven core verticals within the broader project economy, compounding cross-border learning from APAC, Europe and the Americas. We lead pre-seed to Series A rounds globally with ticket sizes ranging from $500,000 to $5 million. Foundamental currently manages $320 Million across three funds and has hold 70+ portfolio relationships to date.
foundamental.com