Investor Profile: Pi Labs — Thesis, Cheque Size & How to Apply

London-based Pi Labs is Europe's specialist investor in the built world, backing founders who use technology to make buildings, cities and construction more digital and sustainable. Founded in 2015, it describes itself as an early-stage venture capital firm backing founders creating a digital and sustainable built world, and it is the first fund many proptech founders should research, because no generalist fund matches its sector network.

Thesis: a digital and sustainable built world

Pi Labs invests in technology that transforms every stage of the real estate value chain, from construction and building operations to the way people live, work and shop. Its stated investment areas are sustainable construction, efficient buildings and infrastructure, sustainable and healthy cities, and the future of work, retail and living.

Sectors and stages

The firm invests from pre-seed to Series A, with follow-on capital for its best-performing companies in later rounds.

Fund size and cheque size

Pi Labs has made around 100 investments since 2015 across three funds, and reports 19 exits and more than 90 companies invested in. Its third proptech fund, its largest to date, was reported at around $90 million, with an ambition to almost double the portfolio to more than 100 companies. Average ticket sizes range from £350K to £2M, according to the firm's own website, with follow-on capital available.

Notable portfolio

The portfolio shows the breadth of the built-world bet. It includes Plentific, a platform connecting homeowners with tradespeople, Airsorted, a short-let management service, and Brolly, an artificial intelligence insurance adviser, from earlier funds, plus third-fund investments such as US warehouse management platform Fulfilld, London augmented reality startup Dent Reality, and Vienna sustainability startup GreenPass.

Partners, programmes and support

Pi Labs was founded by managing partner Faisal Butt, and its partners include Stefania Ponzo, Michael Murad and Hugo Silva. Beyond capital, the firm offers mentorship, a network of venture partners drawn from B2B sales, product development and compliance, co-investment help for follow-on rounds, and a global real estate network spanning its limited partners and mentors. It also runs an annual growth programme, and it provides dedicated mental health sessions and a support network for founders and employees, an unusually explicit wellbeing offer for a venture firm. No standalone cloud credits or perks package is published.

How to apply for funding

Pi Labs says its investment process generally takes two months from first meeting to completion, and its annual growth programme opens applications once per year, typically for eight weeks. Founders can therefore approach the firm directly through its website at pilabs.vc for a standard investment conversation at any time, and watch for the annual growth programme window if they want the more hands-on version. A pitch that names the property pain point, the customer who pays, and the pilot that proves it will land far better than a generic smart-city vision.