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LOS ANGELES, Feb. 11, 2021 /PRNewswire/ Navitas Capital announced today that its portfolio company, Matterport, will be going public following a merger with Gores Holdings VI at a valuation of $2.9 billion. Navitas first invested in Matterport s seed round after meeting the team at Y-Combinator, the Silicon Valley accelerator in 2011. Following its initial investment, Navitas continued to invest in each following round up to today s announcement. Navitas Matterport investment came after investing in Matterport s Y-Combinator classmate, PlanGrid, a leader in construction management software acquired by Autodesk for $875M in December 2018.
Travis Putnam, Managing Partner and Co-Founder of Navitas said, It s incredibly gratifying to see the maturation and acceleration of the venture sector across real estate and construction. When we formed Navitas over a decade ago, we recognized the breadth of venture investment opportunities