Global venture capital firm Pi Labs has appointed James Pellatt as venture partner to lead deployment of technologies across the global property portfolios of its LP base.
Pi Labs has invested in over 80 portfolio companies that have all developed proprietary technological solutions to solve business critical issues across the built environment.
This includes the decarbonisation and streamlining of buildings and construction materials, optimisation of logistical supply chains, AI solutions for development sites, ESG reporting and tools to create healthy, sustainable cities.
Pi Labs’ mission is to create a digital and sustainable built world, and its global LP network comprises leading real estate investors and developers across all major markets. The company has already facilitated successful deployments into its LP base at a global scale:
Contilio, the 3D AI analytics platform to monitor construction progress, is being deployed by Aldar Properties for its $4 bn (€3.67 bn) Saadiyat Grove mega development in Abu Dhabi. Related Argent has adopted retail AI solution Adeptmind to serve customers at its shopping destination in Kings Cross.
Bosa Development has implemented Tangible to analyse carbon data and source sustainable building materials. Additionally, Schroders Capital partnered with Bright Spaces to reposition and digitalise their property portfolio in the Netherlands.
The VC firm has appointed Pellatt to take this a step further and spearhead more deployments of portfolio company technologies across LP portfolios globally; transforming the built world to create a digital, sustainable future, fit for generations to come.
Pellatt was most recently director of innovation at Great Portland Estates (GPE), an LP in Pi Labs’ Fund III, where he developed and executed digital transformation strategies across its £2.5 bn (€3 bn) London portfolio to better serve customers, achieve net zero ambitions and improve operational efficiency for assets and staff productivity.
His time at the firm saw GPE deliver over 6 million ft2 (560,000 m2) of commercial, residential and retail space across central London, and become a market leader in smart buildings.
This included the adoption of Qflow, a machine learning SaaS technology to track project carbon and support sustainable construction across its development pipeline. The company also implemented Pi Labs’ portfolio companies 720 Sensors and Demand Logic.
Faisal Butt, managing partner and founder of Pi Labs, said: 'In the face of unprecedented environmental risk, Pi Labs is committed to creating a digital, sustainable future, fit for generations to come.
'Investing in early-stage start-ups that are digitalising and decarbonising real estate and construction is our niche: facilitating deployments of these technologies into our LP base is what will drive much-needed change on a real and global basis.
'For years, we have been successfully facilitating deployments of our portfolio companies into our LP base at a global scale, and appointing James will allow us to double down and maximise opportunities for both our founders and LPs alike. Given James’ expertise and track record, he is well-equipped to support the ambitions of many of our international LPs who are seeking to decarbonise and digitalise portfolios, and we are delighted to have him onboard.'
Said Pellatt: 'Net zero targets, energy costs, labour shortages and costly development inefficiencies are just some of the reasons why developers, investors, suppliers and occupiers are looking to future proof themselves through digitalisation.
'There is overwhelming evidence from the early adopters that transforming operations through the proven innovative solutions available gives companies a considerable competitive advantage.
'I look forward to working with both the portfolio companies in Pi Labs’ ecosystem as well as all global LPs to support the evolution of our built environment for the benefit of all stakeholders.'
