Pi Labs adds LPs to its third institutional proptech fund

Three new investors have joined as limited partners in Pi Labs’ third institutional fund, Fund III, the European proptech venture capital firm announced Tuesday.

Gaedeke Group, Swedish company Europi and FTSE-listed office developer, Helical Plc have invested in the vehicle. This follows recent commitments from Moorfield and Elkstone Partners.

The new funding will support Pi Labs’ investment strategy of identifying the next generation of proptech start-ups and build on its position as Europe’s leading proptech venture capitalist.

In addition to new investors, several existing investors from Fund I and Fund II have invested in Fund III. Pi Labs is expecting the amount of capital from re-ups from existing investors to exceed 100 percent of the total size of Fund I and Fund II combined. In addition, during the coming weeks, Pi Labs is expecting to exceed 100 percent of its target, driven by interest from both investors from prior funds as well as new limited