Global proptech venture capital firm Pi Labs has secured USD90 million for its oversubscribed latest fund, which will back startups revolutionising the real estate world through technology.
This is Pi Labs’ third proptech fund and its largest to date.
The fund’s primary focus will be to invest in early stage proptech startups – from pre-seed to series A stage – around the world, with average investments ranging from USD500,000-USD1.5 million per deal, plus follow-on capital. With a USD90 million investment platform and looking to back the next global proptech unicorn, Pi Labs will also deploy capital during later stage rounds to turbocharge the scale-up of the sector’s most promising companies, in addition to funding the best-performing startups from its portfolio over the life cycle of their growth journey.
The final close was supported by numerous blue-chip institutional investors from around the world, including the largest Dutch pension provider APG, listed UAE developer Aldar Properties, iconic London real estate developer Sellar, King’s Cross Central Limited Partnership (represented by Argent and also including AustralianSuper and Federated Hermes), Hong Kong-based developers Sino Group and Swire Properties, Nordic sustainable construction solutions firm Kiilto, Canadian Hopewell Group and Germany’s Jaeger Gruppe.
The latest LPs join an existing list of renowned investors including Great Portland Estates, Patrizia, Assura, Revcap, Embassy Group, Moorfield, Elkstone Partners, Helical, Europi and Gaedeke.
