Embassy Group Joins Pi Labs’ 3rd Fund as Limited Partner
<span style="font-weight: 400;">Real estate firm Embassy Group on 13th May said it has joined proptech venture capital (VC) firm Pi Labs’ third fund as a limited partner (LP).</span> <span style="font-weight: 400;">The investment will support its commitment to the transformation of the real estat
Published -
May 15, 2021 4:14 AM
Real estate firm Embassy Group on 13th May said it has joined proptech venture capital (VC) firm Pi Labs’ third fund as a limited partner (LP). The investment will support its commitment to the transformation of the real estate sector through innovative technology, drawing on synergies from Pi Labs proptech ecosystem, the Bengaluru-based developer said. Pi Labs is Europe’s most active proptech VC, with over 55 investments in its portfolio and has launched two funds (Fund 1 in 2015 and Fund 2 in 2017) before the current fund. It is currently fundraising for Fund III which had its first close in early 2020 after securing €23 million of investment. The strategic investment by Embassy Group will form a gateway for Pi Labs and its portfolio companies in Asia. It will also enable Embassy Group to access its innovation, research and cutting-edge ideas in built-environment technology. This will enable the real estate firm to trial, pilot, and deploy newer technologies across its pan-India portfolio of properties. Embassy Group will also receive priority access to innovative startups in Pi Labs’ network, including those emerging from its accelerator. As an LP, Embassy Group will be able to shape proprietary research and co-invest alongside Pi Labs for select opportunities. “Proptech is a truly global category, its increased growth and adoption makes it one of the most exciting and transformative areas for investment and innovation. We have made investments in over 10 countries across three continents, and this strategic partnership will allow us to draw on synergies with Embassy Group and its leadership in Asia to support our increasingly global strategy," said Faisal Butt, chief executive officer and founder at Pi Labs. “By welcoming Embassy Group to our ecosystem, we are able to deploy and trial technologies across their diverse properties in Asia, taking high growth startups mainstream, and continuing to elevate the category around the world. As proptech continues to thrive across innovation hubs globally, we will continue to identify active partnerships, such as this one with Embassy Group, to help our portfolio companies’ scale into international markets," Butt added.
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