Cushman & Wakefield has ended its relationship with Pi Labs, which it helped to set up only 18 months ago.

Pi Labs was set up to support proptech businesses trying to break into the property market, by giving them access to investment, mentoring and business space.

The co-founders were Faisal Butt, of property-focused venture capital firm Spire Ventures, and Juliette Morgan, of Cushman & Wakefield.

Pi Labs has now announced a new joint venture partner, called The Collective, and has moved into its headquarters.

The Collective has built a 550-bedroom community-driven residential concept, which it says is the largest of its kind in the world, and which will launch next month.

Pi Labs said it has repositioned itself away from being purely an accelerator programme to being a venture capital platform.

Dominic Wilson, managing partner at Pi Labs, said: “Pi Labs has enjoyed a tremendous amount of success since inception in 2014 to become one of the global leaders in proptech investment, with wide-ranging deal flow from Australia to the USA.

“The partnership with Cushman & Wakefield has been one of the blocks that we have built this success on.

“We have invested in 13 proptech ventures in the past 18 months and are very excited to be announcing another 15 in the next year.

“As our platform continues to expand, we will continue to establish multiple partnerships in different sectors and jurisdictions with the unwavering commitment to provide the best support we can to the companies in which we invest.

“Our partnership with The Collective on our accelerator programme is a first step to growing our team and operations, and we will be announcing further tie-ups over the coming six months.

“Cushman & Wakefield have been an excellent partner and Pi Labs and its companies are indebted to their unstinting support.

“No doubt our paths will cross again and we look forward to the opportunity to work together in the future.”