Pi Network, a mobile-centric blockchain platform, has announced the launch of a $100 million fund dedicated to investing in projects developed on its infrastructure. The news came to light on May 14, unveiling the existence of Pi Network Ventures.
With a starting investment of $100 million, comprising both Pi (PI) tokens and US dollars, Pi Network Ventures aims to boost startups and businesses that are contributing to the expansion of the Pi Network’s ecosystem. The strategic program is focused on empowering top-tier startups and companies across various sectors, thus fostering innovation and driving growth within the ecosystem.
The Pi Foundation, which lies at the heart of the Pi Network, operates as an “ownerless” entity, with its primary function being to support the long-term development of the ecosystem. The newly unveiled venture fund will be sourced from the 10% of Pi tokens that were set aside for ecosystem initiatives.
What is the objective of Pi Network Ventures? The goal is to enhance the utility of Pi by investing in businesses and startups that incorporate it into their products and services. The new entity will also strive to bring more applications, transactions, and companies onto the network, while also exploring new 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.”
Unlike other crypto ecosystem initiatives, Pi Network Ventures intends to support startups from their infancy stages until Series B funding and beyond. This strategy gives access to high-potential innovators and aids in the scaling of established businesses. Moreover, the investment fund plans to expand into 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.
Another unique aspect of Pi Network Ventures is its adoption of a traditional Silicon Valley venture capital firm approach, particularly in sourcing, selection and vetting processes. The goal is to identify and back high-impact and disruptive startups and companies.
