Today, Pi Foundation announced the launch of Pi Network Ventures, a $100 million development initiative aimed at investing in startups and enterprises that promote the acceptance and use of Pi. The fund will be divided between PI token and US dollars. It will be taken from 10% of the PI supply reserved for the fund.
Pi Network's $100 Million Project to Improve Utility
The project had hinted at this announcement throughout the week. Pi Network Ventures will support companies from early stages to Series B in integrating Pi into their products, services, or business processes.
Moreover, investments will focus on areas beyond crypto, including AI, fintech, e-commerce, embedded payments, and consumer applications.
This investment fund intends to operate using a Silicon Valley-style search, selection, and validation process. Most investments will be made directly with Pi token instead of fiat currency, aimed at aligning interests with the development of the Pi ecosystem.
Furthermore, Pi Foundation emphasizes that the fund's goal is to promote real-world use cases of Pi. The fund will aim to enhance the network effect among tens of millions of KYC-verified users.
Meanwhile, the $100 million is not guaranteed to be fully deployed and will be invested gradually depending on the quality and quantity of candidates.
Overall, this is an important development as Pi seeks broader real-world integration and expands decentralized utility. After a significant decline in recent months, PI has seen increased trading and buying pressure in May.
As of 05/14, this altcoin has increased by 85% in the past two weeks. This optimistic sentiment is driven by recent rumors of Binance listing and increasing popularity in European markets like Finland.
