Pi Network launches a $100 million fund to support startups and promote Blockchain adoption.

Source: Cointelegraph Original text: "Pi Network launches $100 million fund to support startups and promote blockchain adoption"

The mobile-first blockchain Pi Network has launched a $100 million fund to invest in projects on its infrastructure.

According to the announcement on May 14, the Pi Foundation announced the launch of Pi Network Ventures, with an initial investment of $100 million, provided in the form of Pi (PI) tokens and US dollars. The fund will invest in startups and enterprises that build on the Pi Network or contribute to its broader ecosystem.

Pi Network stated in a post on X: "This strategic plan aims to invest in high-quality startups and enterprises across industries to drive innovation and ecosystem growth."

The Pi Foundation is the organization behind the Pi Network, described as a "decentralized" entity focused on supporting long-term ecosystem development. The foundation states that the new venture fund will draw funds from 10% of the Pi tokens reserved for ecosystem programs.

As of the time of publication, Pi Network has not responded to Cointelegraph's request for comment.

The mission of Pi Network Ventures is to increase the utility of Pi by investing in startups and businesses that integrate Pi into their products and services. The new organization will also try to bring more applications, transactions, and companies to the network while developing new use cases.

"This initiative aims to create a feedback loop of innovation and adoption by adjusting incentives and providing resources to high-potential founders, startups, and enterprises."

According to the announcement, Pi Network Ventures plans to invest in startups from early stages to Series B funding and beyond. It hopes that this approach will connect with high-potential innovators while helping to scale proven successful businesses.

Pi Network Ventures claims that its focus and processes are different from other cryptocurrency ecosystem projects. The announcement states that the company aims to fund not only cryptocurrency investments but also general technology fields, including generative artificial intelligence and AI applications, fintech, embedded payments, e-commerce platforms, marketplace platforms, social networks, and real-world consumer and business applications.

Another claimed distinction is that the investment fund aims to operate like traditional Silicon Valley venture capital firms. Reportedly, this is primarily reflected in the process of searching, selecting, and reviewing — its goal is to "identify and support high-impact and disruptive startups and enterprises."

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