The first Blockchain PI network launched a $ 100 million fund to invest in initiatives based on its infrastructure.
According to May 14 advertisementThe PI Ventures Pi Network Ventures launches an initial investment of $ 100 million of symbols PI (PI) and US dollars. The fund will invest in startups and companies based on the PI network or contribute to its wider ecosystem.
“This strategic program intends to invest in startups and high -quality companies across sectors, which drives innovation and the growth of the ecosystem,” BP said in the X.
The PI, the Foundation behind the PI network, is described as an entity “without the owner” that focuses on supporting the development of the long -term ecosystems. The Foundation said that the new project fund will be extracted from 10 % of the distinctive PI icons reserved for the initiatives of the ecosystem.
Pi Network did not respond to Cointelegraph’s request to comment by publishing.
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What are PI projects?
Pi Network Ventures has been assigned to increase PI by investing in startups and companies that integrate them into products and services. The new institution will try to bring more applications, transactions and companies to the network while developing new cases of use:
“By aligning incentives and providing resources to the founders with high capabilities, startups and companies, this initiative aims to create a reactions of innovation and adoption.”
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VISTERES strategy for PI network
According to the advertisement, Pi Network Ventures plans to invest in startups from the early stages to the financing rounds from the series B and outside. Hope is that such an approach allows access to high -capabilities creators with help also expand the scope of the companies that have been proven.
Pi Network Ventures claims that it differs from the ecosystem programs for encryption in its concentration and processes. This advertisement said that the company aims to reduce encryption investments but also to finance the general technology sectors, including artificial intelligence applications and male intelligence, Fintech, compact payments, e -commerce platforms, markets, social networks, consumer applications and institutions in the real world.
There is another difference in demand is that the investment fund aims to dispose of the traditional silicon investment companies. According to what was mentioned, this will appear primarily in the process of identifying sources, selection and examination, which aims to “identify and support startups and companies with a high impact and sabotage.”
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The post Pi Network to invest $100M in startups building blockchain apps first appeared on Investorempires.com.
