Airtree Ventures has exited its minority position in DroneDeploy, the US-based construction software company, following a buyout valued at $US845 million ($1.2 billion).
The transaction, which closed last week, marks a significant liquidity event for the Australian venture capital firm, which has more than doubled its initial investment over an eight-year holding period.
The sale provides a rare and substantial return for Airtree’s earliest investors, who have faced a challenging environment for private equity exits in recent years.
The deal underscores the growing valuation of enterprise software platforms that digitize physical infrastructure, a sector that has attracted intense competition and capital in the US market.
DroneDeploy’s acquisition highlights the continued appetite for buyouts in the proptech and construction-tech space.
The company’s platform, which uses drone imagery and AI to create site maps and progress reports, has become a standard tool for large-scale construction firms seeking to improve project efficiency and reduce costs.