Pi Network plans to invest $100 million in startups developing blockchain applications, aiming to accelerate innovation within its growing ecosystem.
It has established its Ventures, a $100 million fund, to invest in startups and companies that promote the use and uptake of its blockchain ecosystem.
Pi Network, a mobile-first blockchain, has established a $100 million fund to finance projects based on its framework.
The Pi Foundation is establishing its Ventures with an initial investment of $100 million in US cash and Pi (PI) tokens, per an announcement on May 14. Startups and companies expanding on Pi Network or adding to its larger ecosystem will get investments from the fund.
In an X post, it stated, “This strategic program intends to invest in high-quality startups and companies across sectors, driving innovation and ecosystem growth.”
The “ownerless” organization that runs Pi Network, the Pi Foundation, is said to be committed to fostering the long-term growth of ecosystems. The foundation plans to fund the new startup fund with 10% of the Pi tokens set aside for ecosystem projects.
Pi Network Ventures: What is it?
The mission of Pi Network Ventures is to expand the usefulness of Pi by funding startups and companies that incorporate it into goods and services. While creating new use cases, the new company will try to add more apps, transactions, and businesses to the network:
“By aligning incentives and providing resources to high-potential founders, startups and companies, this initiative aims to create a feedback loop of innovation and adoption.“
The approach of Pi Network Ventures
Pi Network Ventures stated in the release that it intends to invest in firms from the beginning to Series B funding rounds and beyond. We hope this strategy will help scaleestablished enterprises and provide access to high-potential entrepreneurs.
Pi Network Ventures asserts that its procedures and emphasis set it apart from other crypto ecosystem projects. According to the announcement, the company intends to finance various general technology sectors, such as generative AI and AI applications, fintech, embedded payments, e-commerce platforms, marketplaces, social networks, and real-world consumer and enterprise applications, in addition to cryptocurrency investments.
The investment fund aims to behave like traditional venture capital firms in Silicon Valley, which is another purported distinction. The sourcing, selection, and vetting process, which seeks to “identify and support high-impact and disruptive startups and businesses,” is said to be where such differences will be most noticeable.
