The mobile-first blockchain Pi Network has launched a $100 million fund to invest in projects built on its platform. The Pi Foundation announced on May. 14 that it is launching Pi Network Ventures with an initial $100 million investment in a mix of Pi (PI) tokens and U.S. dollars.
The fund will invest in startups and businesses that are building on the Pi Network or helping to expand its ecosystem. The network said in an X post:
This strategic program intends to invest in high-quality startups and companies across sectors, driving innovation and ecosystem growth.
The creator of Pi Network, The Pi Foundation, is an independent organization dedicated to supporting the network’s long-term growth and development.
Pi powers startups with new venture fund
Pi Foundation announced it will fund the new venture fund using 10% of Pi tokens allocated for ecosystem development. The network ventures aim to boost the real-world use of Pi by investing in startups and businesses that incorporate it into their products and services.
The new organization will try to bring more apps, transactions, and companies into the network while creating new ways to use it. Additionally, the initiative supports promising founders and startups by offering the right incentives and resources.
The Network Ventures plans to invest in startups from their early stages through Series B funding and beyond. The hope is that this tactic will help them connect with promising innovators while supporting the growth of proven businesses.
Pi Network Ventures says it stands out from other crypto programs because of its unique focus and processes. The announcement said the company plans to expand beyond crypto investments to also fund various technology sectors.
The sectors include e-commerce platforms, generative AI, fintech, marketplaces, generative AI, social networks, embedded payments, and real-world applications for both consumers and businesses.
