Bosa Ventures, the corporate venturing arm of real estate developer Bosa Properties, has formed a strategic partnership with UK-based property technology-focused accelerator and venture capital firm Property Innovation Labs.
Pi Labs has funded 16 startups in subsectors such as planning, social housing and office management since it launched in 2014, investing as part of seed and series A rounds ranging from £250,000 to £2m ($325,000 to $2.6m) in size.
Canada-based Bosa Ventures will assist in Pi Labs’ accelerator, which provides £50,000 in funding in return for a 7% stake, minus a £10,000 free deducted at the end of the three-month, bi-annual program.
The latest batch presented their technology to investors last week and were looking for between £500,000 and £1m in seed capital.
Bosa Ventures will supply an additional £50,000 for the startups through convertible note financing or as part of a seed round, and its parent company will be able to assist portfolio companies in any expansion to North America.
Colin Bosa, chairman of Bosa Properties, said: “Our alignment with Pi Labs will allow us both to be on the forefront of new frontiers of proptech, while leveraging the multiple streams of innovation we already have underway in the field of property development and construction”.