Helical plugs in to Pi Labs proptech portfolio

Helical is one of three new investors in Pi Labs’ latest proptech fund. US investor Gaedeke and Swedish firm Europi also signed up as limited partners, joining Moorfield and Elkstone Partners. Fund III will focus primarily on early stage proptech start-ups – from pre-seed to series A stage – across the UK, Europe, and further afield, that have “developed proprietary technology to enhance any stage of the real estate value chain”. However, the fund will also deploy capital to support the scale-up of proptech companies. Pi Labs has already invested in 18 companies out of the new fund since the beginning of the pandemic. It currently has over 60 investments in its portfolio. Helical company secretary James Moss said: “Helical’s investment in Pi Labs’ latest fund reflects the importance we place on supporting businesses and technologies that aim to help drive the evolution of our workplaces. “As people return to the office following a period of significant disruption and enforced working from home, it’s now more important than ever that the office motivates team members, enables learning, encourages collaboration and helps foster a positive company culture.” As an LP investor, Helical will gain access to Pi Labs’ ecosystem, which includes global start-ups, the company’s proprietary research, ideas in built environment technology emerging from its accelerator programme and co-investments alongside Pi Labs for select opportunities. The strategic investment will allow the new LPs to trial, pilot, and deploy the latest technologies across their portfolio of properties. Faisal Butt, chief executive and founder of Pi Labs, said: “The new partners joining our third fund is a real testament to the sustained focus and importance of the proptech sector.” Pi Labs is currently fundraising for Fund III, which had its first close in early 2020 having secured €23m of investment. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews