Pi Labs, the European venture capital platform focused on early-stage proptech companies, has joined forces with CBRE following its split from Cushman & Wakefield in April.
The pair will work together mentoring start-ups in Pi Labs’ accelerator programme, based at The Collective’s co-working hub at 14 Bedford Square, W1. The next cohort to go through the scheme starts in January.
The tie-up will give CBRE first look at start-up companies and their innovations and could help Pi Labs’ efforts to go global.
Earlier this year Pi Labs made its first foray into North America, teaming up with Bosa Ventures, the venture capital arm of Canadian luxury residential developer Bosa Properties.
Bosa will provide funding for start-ups exiting the cohort scheme and a potential link for expansion into North America.
Pi Labs is also exploring opportunities in Singapore, which CBRE could help with by providing its expertise and contacts in the region.
Pi Labs managing partner Dominic Wilson said: “CBRE has access to insight on a global scale which is unparalleled, given what we do. It has the client base and feedback from its engagement with the market – it can pass that knowledge on to us and our portfolio of companies. This will make a difference as to whether these companies fail or succeed.”
He added that the relationship would be different from the one Pi Labs had with Cushman & Wakefield, as Pi Labs was now more established and did not need capital investment from a partner.
Since the split, Cushman & Wakefield has had talks with US-based Starwood Capital and tech investor Seedcamp about launching a rival proptech accelerator, but nothing has been announced yet.
Ciaran Bird, UK managing director at CBRE, said: “Pi Labs has evolved rapidly since its inception and can now provide us with a unique view of the trends and new proptech innovations for all aspects of the real estate sector.”
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