Our innovation programme has taken its next step forward as we join the largest fund to date from leading European proptech VC, Pi Labs.
We’ve joined other sector leaders to commit capital to the firm’s third fund, which will focus on investing in early stage proptech start‐ups across Europe and the UK and support scaling proptech companies.
Launched in 2014, Pi Labs is Europe’s longest standing proptech VC, with an industry‐leading track record across 46 investments. Pi Labs was the first institutional investor in some of Europe’s leading proptech companies including LandTechnologies, Plentific and OfficeRnD.
Pi Labs invests in start‐ups that use technology solutions to enhance any stage of the real estate value chain including sustainability, future of work, future of retail, commercial real estate technologies, construction technology, and smart cities.
Patrick Lowther, our Head of Investment, said: “This investment reflects our commitment to innovation and technological advances in the real estate market. We are only at the very start of realising the significant benefits technology can have on the wider property sector, from embedding tech in the design of buildings to greater connectivity and how people interact with services – which will be hugely relevant to Assura’s expertise on GP surgery, primary care and community health estate. We are looking forward to working closely with Pi Labs going forward and witnessing the opportunities that can be created through the fund.”
Faisal Butt, CEO, Chairman and Founder of Pi Labs, said: “We look forward to working with Great Portland Estates, Revcap, Assura and Patrizia as our first committed strategic investors <in Fund III>. Our plan is to continue to build on the thriving proptech ecosystem we have created in Europe, which will help some of the world’s best proptech founders to scale and become global firms.
“As one of the first investors into the proptech sector, we have worked very hard over the years to build a strong portfolio community fostering collaboration between start‐ups, traditional real estate companies, and our investment partners, which we believe is key to creating global scale for the companies we invest in.”
Fund 3 is projected to invest into 50 Proptech companies over five years, almost doubling Pi Labs’ portfolio to 100. Investment from the fund will range from £250,000 ‐ £1 million per deal, plus follow‐on capital.
For more information, visit PiLabs
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