PI LABS ENTERS INTO JOINT VENTURE PARTNERSHIP WITH THE COLLECTIVE FOR ITS ACCELERATOR PROGRAMME
Europe’s first property technology (proptech) focused accelerator will be based in The Collective’s Bedford Square HQ
LONDON, 07 APRIL, 2016 – Pi (Property Innovation) Labs – Europe’s first proptech-focused venture capital platform, has brought onboard the pioneering property start-up The Collective as a joint venture partner for the Pi Labs Accelerator; its ground breaking pre-seed investment programme for proptech startups.
From this week, the Pi Labs Accelerator will move into a vibrant co-working space at 14 Bedford Square, The Collective’s headquarters. The move comes as Pi Labs repositions from being solely an accelerator programme to a Venture Capital platform investing in early stage ventures seeking funding from pre-seed stage to Series A. With this platform expansion, Pi Labs is partnering with innovative individuals and companies for different areas of its business. The first of these is a JV partnership between the Pi Labs Accelerator and The Collective.
Already home to a number of the UK’s leading proptech start-ups, 14 Bedford Square counts progressive interior designers DH Liberty and BamBambi among its members as well as online property auctioneer Bamboo Auctions and residential property developer IV Property.
The Pi Labs Accelerator was launched to identify, mentor, and accelerate high-calibre start-up ventures which have the passion and ability to create scalable businesses that will disrupt the property industry, and has helped launch, fund and mentor ten successful businesses since 2014.
The Collective itself is one of the most innovative property firms in the UK and operates a number of co-living and co-working spaces across the capital.
Positioning London at the forefront of the global co-living revolution, The Collective has built a 550-bed community-driven residential concept – the largest of its kind in the world – that will launch in May and offer Londoners a completely new way of living.
The 11-storey development will also house 400 entrepreneurs in a co-working space that will open in September 2016. Pi Labs will have the option of using this co-working space to tap-into the site’s community of entrepreneurs.
Dominic Wilson, Managing Partner of Pi Labs, said: “There is a lot of obvious synergy between Pi Labs and The Collective – both are young, visionary organisations helping shape the future of the property industry. Reza is an excellent example of a young property entrepreneur who has built a large business and this is exactly the sort of experience our accelerator companies can benefit from. We are scaling our operations to invest in more small and growing proptech companies; we see this as the perfect physical space and surrounding environment to help us reach that goal.”
The next cohort of start-ups for the Pi Labs accelerator programme will be announced this month.
Reza Merchant, CEO of The Collective, said: “We’re excited to welcome Pi Labs to The Collective. Pi Labs’ vision of disrupting the property market very much aligns with the innovative nature of our own business – it’s also a natural fit with our existing community of proptech startups at 14 Bedford Square. We’re looking forward to nurturing the next wave of companies which have the potential to transform the property market.”
Apart from providing space for the Pi Labs Accelerator, The Collective will also offer mentoring to start-ups on the programme alongside access to a series of business-centric events and talks which will take place at 14 Bedford Square throughout the year.
About The Collective
Established in 2010, The Collective is a property company with a new perspective. The pioneering London-based startup aims to change the way people can choose to live by creating places that reflect and respond to the evolving needs, aspirations and identities of people.
The Collective collaborates with people to create places. It actively manages each site on a day-to-day basis, staying involved and building real communities for its members. In May 2016, The Collective’s flagship co-living site will open in Old Oak. It also has co-living spaces in Acton, Camden, Hyde Park, King’s Cross and Notting Hill, alongside co-working space in Bedford Square, Acton and from September 2016 at Old Oak.
The Collective’s management team has also delivered the successful Pop Brixton and been appointed for the forthcoming Peckham Levels via its social enterprise arm, Make Shift.
The company runs a charitable fund, The Collective Foundation, which provides proactive support to outstanding students, aspiring entrepreneurs and industry leaders. From work experience and apprenticeship programmes, through to subsidised living and working space, The Collective Foundation is a launchpad for turning dreams into reality.
The Collective has also instigated a growth fund, backing entrepreneurs who are committed to building smart city technology to disrupt the property, retail, design, social and food & beverage sectors. For more information, visit: thecollective.co.uk.
The Collective can also be found on Facebook, Twitter, Instagram, and LinkedIn.
About Pi Labs
Property Innovation Labs (Pi Labs) is Europe’s first venture capital platform to invest exclusively in early stage ventures in the property tech vertical. Pi Labs is based in London and invests in property tech companies globally.
Pi Labs was founded to become the centre of the property innovation ecosystem with the vision to identify, mentor, invest in and accelerate high-calibre startup ventures which have the passion and ability to create scalable businesses that will disrupt the property industry. Its in-house property expertise assists entrepreneurs in the rapid scaling of tomorrow’s tech-enabled property start-ups.
Pi Labs invests in property tech companies both directly, investing in Seed to Series A stage businesses, and through its accelerator programme. The Pi Labs Accelerator is a 13-week mentor led programme that accelerates the growth of exciting property tech start-ups. The accelerator business model creates a culture of innovation and mutual support between talented groups of entrepreneurial founders within the same areas of interest.