Pi Network, a mobile-first blockchain platform, has recently unveiled the launch of a $100 million fund known as Pi Network Ventures. This initiative aims to invest in startups and businesses that are either built on the Pi Network infrastructure or contribute to its ecosystem's growth. The Pi Foundation, the entity behind Pi Network, will allocate an initial investment of $100 million in Pi (PI) tokens and US dollars for this fund.

The Pi Foundation, described as an "ownerless" organization dedicated to fostering long-term ecosystem development, has revealed that the funding for Pi Network Ventures will be sourced from the 10% of Pi tokens designated for ecosystem initiatives. The primary goal of Pi Network Ventures is to enhance the utility of Pi by supporting startups and businesses that integrate the platform into their products and services.

By investing in early-stage to Series B funding rounds and beyond, Pi Network Ventures aims to not only attract innovative entrepreneurs but also assist in scaling established businesses. What sets Pi Network Ventures apart from other crypto ecosystem programs is its broad focus on various technology sectors beyond just cryptocurrency. This includes areas like generative AI, fintech, e-commerce platforms, marketplaces, and social networks, among others.

One distinctive feature of Pi Network Ventures is its ambition to function similarly to traditional Silicon Valley venture capital firms. This means that the fund will employ rigorous sourcing, selection, and vetting processes to identify and support high-impact and disruptive startups and businesses. The ultimate objective is to create a feedback loop of innovation and adoption within the Pi Network ecosystem.

Pi Network Ventures seeks to drive the integration of more apps, transactions, and companies into the network while exploring new use cases for the platform. By aligning incentives and providing resources to promising founders and companies, this initiative aspires to foster innovation and growth within the Pi Network ecosystem.

As Pi Network Ventures unfolds, it represents a significant step towards expanding the reach and impact of the Pi Network platform. With a substantial investment backing and a strategic focus on fostering innovation and ecosystem growth, Pi Network Ventures is poised to play a pivotal role in shaping the future of decentralized applications and blockchain technology.

Source: https://cointelegraph.com/news/pi-network-s-team-launches-100-m-fund-to-invest-in-ecosystem?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound