3 September, 2021
by Europi Property Group
Europi Property Group and Pi Labs, Europe’s leading PropTech VC firm, enter a strategic partnership
Europi Property Group invests in Europe’s leading PropTech VC firm Pi Labs’ third fund, which intends to invest SEK 700 million within three years. The partnership involves an active collaboration with the VC firm, with Europi Property Group and Brunswick Ventures becoming strategic partners in the Nordic region
“We’ve gotten to know Pi Labs over the past year and are very impressed with their research and data-driven investment strategy and the high returns of their past funds. For Europi, innovation and entrepreneurship are key core values that are driving much-needed further development in the real estate sector. Through our network in the Nordics, we look forward to being a strategic partner for Pi Labs and assist with both investment ideas and local market knowledge in collaboration with Brunswick Ventures. For Europi, which invests through an established operating partner network with a focus on social and environmental sustainability, it is a natural corporate development step to partner with a leading innovation group like Pi Labs. We have grown over the last 18 months through a number of deals in both the UK and Poland, and have further acquisitions in Spain and Portugal expected to close shortly. We look forward to our partnership with Pi Labs and are already actively following a number of companies they have invested in” says Jonathan Willén, CEO and co-founder of Europi Property Group.
Every year since 2015, Pi Labs has organised a world-leading 15-week accelerator programme. In March 2021, the ninth accelerator programme was organised with 1,100 applicant companies from 42 countries, five of which will now become part of the third fund. It is hoped that Pi Labs’ presence in the Nordics through Europi Property Group and Brunswick Ventures will contribute to more Nordic companies applying to the programme.
“In addition to Europi’s investment, the partnership allows us to get closer to Europe’s PropTech scene, where we can act as a bridge for Swedish PropTech companies seeking international capital and global expansion as well as for European companies looking to enter the Nordics” says Willem De Geer, CEO and Partner at Brunswick Ventures.
Faisal Butt, CEO and founder of Pi Labs, says
“We are delighted to welcome Europi Property Group as an investor in our third fund and as a Nordic partner alongside Brunswick Ventures. Their extensive experience as a real estate and tech investor will add strategic value to Pi Labs and our growing portfolio. We see expanding our PropTech ecosystem to the Nordics and gaining access to the exciting companies that exist there as central to our success.”
For its third fund, Pi Labs is attracting investors from North America, Europe, the Middle East, APAC and Asia. Pi Labs’ current strategic partners who have invested in Fund III include FTSE-listed Great Portland Estates PLC, FTSE-listed Assura PLC, Patrizia AG, real estate fund manager Revcap and Embassy Group, one of India’s largest real estate conglomerates.