Dar’s venture capital arm Dar Ventures invested GBP 5 mn in London’s Pi Labs’ environment technology fund, Dar Ventures co-founder Nader Abushadi told EnterpriseAM UAE. Pi Labs’ fourth institutional fund is targeting a GBP 100 mn close, which it will use to back 50 pre-seed to Series A startups focused on AI-driven solutions for real estate, construction, infrastructure, and related sectors, according to a press release.

The fund’s focus: The fund targets AI-native startups developing technologies for sustainable construction, efficient urban development, optimized architecture, engineering, construction and property management, and reduced carbon footprints of commercial assets.

“Pi Labs is a leading investor in the architecture, engineering, and construction energy in the UK, which offers us visibility into the European market,” Abushadi said. The investment earns Dar Ventures a seat on their investment committee, giving them exposure to startups in that market and supporting their ability to help portfolio startups in the region expand to those markets, Abushadi said.

The VC arm also invested another USD 5 mn earlier in US investor Fifth Wall, expanding its visibility further in the US, Abushadi told us.

About Pi Labs: The London-based venture capital firm invests in early-stage startups developing sustainable city technologies. Since 2015, the firm deployed capital through three funds backing more than 90 startups across 15 countries. Pi Labs has reported 17 exits to date. Its LP network includes Abu Dhabi developer Aldar, Dutch pension fund APG; and UK and European institutions such as Patrizia, Assura, Revcap, Helical, and Sellar.

Tags: