Cushman & Wakefield is in talks with US-based Starwood Capital and tech investor Seedcamp to launch its second proptech accelerator.
The new venture comes after its partnership with Pi Labs, the accelerator the agent launched with Spire Ventures two years ago, ended. It will be based in Rohan Silva’s Second Home in Shoreditch, E1, the heart of London’s Tech City.
Pi Labs is now partnering with Reza Merchant’s The Collective and has moved from Second Home to The Collective’s HQ at Bedford Square, WC1.
Starwood Capital is a long-term investor in global real estate, securities and debt but is not known for its investment in proptech.
Seedcamp was set up in 2007 to invest in pre-seed and seed stage start-ups around the world. Since its inception is has invested in more than 200 companies.
During its partnership with C&W, Pi Labs has helped fund and provide mentoring and office space to more than a dozen proptech start-ups, including YourWelcome, which provides concierge-style services to short-term landlords and was valued at more than £2m one month after exiting the Pi Labs programme.
A source said: “Proptech is a recognised growth area and disruptor in the real estate market, so it is not surprising that an investment giant of Starwood’s size is interested in the sector.”
All parties declined to comment.
For more on tech in the real estate world, visit editorial.property.rbi.web.ds/news/technology
Tech terms
Accelerator: offers seed funding, mentoring and office space to start-ups
Incubator: only offers space to support young companies and start-ups
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