Pi Network to invest $100M in startups building blockchain apps
Summary
Pi Network has launched a $100 million fund, Pi Network Ventures, to invest in startups and businesses utilizing its blockchain infrastructure. The fund will use Pi tokens and US dollars to support initiatives that enhance the Pi ecosystem. Pi Network Ventures aims to foster innovation by investing in high-quality startups across various sectors, including generative AI, fintech, and e-commerce. The fund plans to support companies from early stages to Series B funding rounds, focusing on both crypto and general technology sectors. It intends to operate similarly to traditional Silicon Valley venture capital firms, emphasizing rigorous sourcing and vetting processes to identify impactful startups.
