Pi Foundation announces $100 million investment program to enhance practical applications.

The Pi Foundation has introduced Pi Network Ventures, establishing a fund worth $100 million aimed at aiding startups that are adopting the Pi token for real-world applications.

This initiative, revealed on May 14, is designed to enhance the adoption and ensure sustainable development within the Pi ecosystem by reaching out to businesses outside the conventional Web3 domain.

The Foundation indicated that most investments would be made using Pi tokens, drawn from the 10% reserve allocated for development within the ecosystem.

Pi co-founder Nicolas Kokkalis remarked that this fund complements the network’s overarching objectives of integrating decentralized technology into daily life. He noted that the initiative would provide advantages to both new startups and the wider Pi community by fostering scalable use cases.

The establishment of the fund coincides with the Pi Network facing challenges related to fraud and skepticism about its practical utility. Nevertheless, industry experts view this venture fund as a move toward enhancing the ecosystem’s legitimacy and fostering the token’s significance in established markets.

Pi Network Ventures

The Pi Network Ventures has expressed intentions to support firms across multiple sectors, including artificial intelligence, gaming, fintech, e-commerce, digital payments, marketplaces, and social networking.

Utilizing a venture capital framework similar to that of Silicon Valley, Pi Network Ventures plans to implement thorough selection and sourcing procedures to pinpoint promising startups at various stages, from early-phase businesses to those in Series B funding and beyond.

However, the Foundation clarified:

“The Pi Foundation is not required to invest the entire $100 million, depending on the quality of applicants and the number of startups accepted into the program. Investments may occur over time and could be discontinued at any moment.”

Moreover, the Pi Foundation highlighted that the fund would not only provide financial backing but also enhance the utility of the Pi token by allowing startups to integrate this digital asset into their business models.

In exchange, the companies that receive support will tap into the Pi Network’s expansive user base, which consists of millions of identity-verified users across more than 200 countries.