A $100 million fund named Pi Network Ventures has been launched by Pi Network to provide investments in startups and enterprises focused on enhancing the adoption and practical use of its Blockchain ecosystem.
A $100 million fund has been launched by the mobile-first blockchain Pi Network to support initiatives developed on its infrastructure.
As announced on May 14, Pi Network Ventures is being launched by the Pi Foundation with an initial capital of $100 million in a combination of Pi (PI) tokens and U.S. dollars. Investments will be directed toward startups and businesses developing on the Pi Network or contributing to the expansion of its overall ecosystem.
In a post on X, it was stated by Pi Network that the strategic initiative is designed to fund high-potential startups and companies across various industries, with the aim of fostering innovation and advancing the growth of its ecosystem.
The Pi Foundation, which operates behind Pi Network, has been characterized as an “ownerless” organization dedicated to fostering long-term development within the ecosystem. It was stated by the foundation that the newly established venture fund will be sourced from the 10% of Pi tokens allocated specifically for ecosystem-related initiatives.
A response to the request for comment had not been provided by Pi Network at the time of publication.
An Introduction to Pi Network Ventures
The responsibility of enhancing Pi’s utility has been assigned to Pi Network Ventures through investments in startups and businesses that incorporate Pi into their products and services. Efforts will also be made by the new entity to attract additional applications, transactions, and enterprises to the network while exploring and developing new practical use cases.
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.
Inside Pi Network Ventures’ Investment Strategy
According to the announcement, investments are planned by Pi Network Ventures in startups ranging from early-stage to Series B funding rounds and further. It is hoped that this strategy will provide access to promising innovators while also supporting the expansion of established businesses.
It has been claimed by Pi Network Ventures that its focus and operational approach distinguish it from other crypto ecosystem initiatives. According to the announcement, the company intends not to restrict its investments solely to the crypto space but also to allocate funding to broader technology fields, such as generative AI and its applications, fintech, embedded payment solutions, e-commerce platforms, marketplaces, social media networks, and both consumer and enterprise real-world applications.
Another distinguishing feature has been claimed to be the fund’s intention to operate similarly to conventional Silicon Valley venture capital firms. This approach is expected to be reflected mainly in its methods of sourcing, evaluating, and selecting candidates, with the goal of identifying and supporting high-impact and disruptive startups and enterprises.
