Cemex Ventures, the corporate venturing vehicle of Mexico-headquartered building materials supplier Cemex, is expanding into Chinese investments through arrangements with two local partners.
The unit will liaise with construction industry services provider Glodon and Interdream Ventures, a venture capital firm specialised in digitising construction and decoration projects.
Cemex is seeking new business models that could help it land a slice of the Chinese construction market, by building up relationships with entrepreneurs and other companies.
Cemex Ventures launched in 2017 to oversee its parent company’s strategic and innovation activity in industry areas such as urban development, building modelling and project finance.
Headquartered in Spain rather than Mexico, the unit’s recent deals include an investment of undisclosed size in last-mile delivery platform GoFor Industries in September this year.