Berlin – SMP advised Foundamental on its latest EUR 2 million investment in the Spanish sustainable ConTech 011h which was made in the course of a EUR 10 million round. In addition to Foundamental, 011h raised further funds from other prominent venture capital investors. This matter was led by SMP lawyers Stephan Bank and Daniela Machado.
"In the light of climate-related challenges, which are currently amplified by the pandemic, sustainable and affordable housing has become an important topic in the building industry," says SMP partner Stephan Bank. "We are pleased to continue supporting Foundamental in its cross-border ventures," adds SMP lawyer Daniela Machado.
Foundamental is an independent venture capital fund with offices in San Francisco, Singapore and Berlin, and is the largest global investor in construction technology. Foundamental recognizes global opportunities across markets, from Asia-Pacific over to Europe to North America, and partners with exceptional founders from the earliest stages throughout their venture life cycle.
011h is a new-generation construction company. The company is revolutionizing the construction industry by using technology to build high-quality smart buildings and create healthy, sustainable lives. Founded in 2020, with an end-to-end construction model, 011h aims to lead the digitalization and industrialization of the construction sector to achieve reduced costs and timescales and greater reliability. 011h's philosophy relies on the establishment of a new model of collaboration within the construction industry, based on transparency and focusing on people.
SMP is a boutique law firm for tax and business law which is active in the core fields of Tax, Funds, Corporate, Litigation and Transactions. The attorneys and tax specialists at SMP represent a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations as well as private equity and venture capital funds. Founded in 2017, SMP has become one of the leading players for venture capital, private equity and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus and Chambers and Partners. Today, SMP has more than 60 experienced lawyers and tax specialists in three Offices in Berlin, Hamburg and Cologne.