Pi Foundation launches $100m fund for startups to power ecosystem growth

Pi Network is investing $100 million through its Pi Network Ventures, focusing on startups that grow the ecosystem. Pi Network (PI) is investing millions into its ecosystem to promote adoption. On Wednesday, May 14, the Pi Foundation announced the launch of Pi Network Ventures, allocating $100 million to fund startups. In a press release shared with crypto.news, the Foundation stated that the Silicon Valley-style venture fund will invest in promising startups within its ecosystem. The fund will focus on startups that drive real-world adoption and utility, as well as those integrating Pi crypto. Moreover, the fund is also open to startups not strictly crypto-native. According to the Foundation: “Pi Network Ventures plans to support not only blockchain-native startups, but also a wide array of businesses in generative AI, gaming platforms, FinTech, ecommerce, embedded payments, marketplaces, social networks, and other real-world applications.” Pi Network Ventures to mirror Silicon Valley The Foundation also highlights another break from traditional crypto models. Notably, Pi Network Ventures plans to operate under the principles of traditional venture capital firms popularized in Silicon Valley. This approach includes the sourcing, selection, and vetting processes that traditional VC firms use to identify companies with the biggest potential impact on the market. This will include investing in companies at all stages, from early-stage startups up to Series B+ companies, and even further. One notable difference from the traditional VC model lies in its goals. Unlike most funds that focus solely on profit, Pi Network Ventures will prioritize value creation and ecosystem utility. The aim is to back projects that integrate Pi tokens into their services or use Pi Network technology in real-world applications. Through this strategy, Pi Network Ventures hopes to increase adoption and demand for the Pi token, while supporting meaningful innovation across industries. Source: https://crypto.news/pi-foundation-launches-100m-fund-for-startups-to-power-ecosystem-growth/