Pi Network, a mobile-first blockchain platform, has introduced Pi Network Ventures, a $100 million fund aimed at investing in startups and businesses that utilize its infrastructure. The Pi Foundation, the entity behind Pi Network, will allocate an initial investment in Pi tokens and US dollars to support initiatives within its ecosystem. The fund's objective is to drive innovation and ecosystem growth by backing high-quality startups across various sectors. Pi Network Ventures plans to enhance Pi's utility by integrating it into products and services, attracting more apps, transactions, and companies to the network. Unlike other crypto ecosystem programs, the fund will focus on a wide range of technology sectors beyond just cryptocurrencies. Despite facing criticism and concerns, Pi Network Ventures aims to operate like traditional venture capital firms in sourcing and supporting innovative startups and businesses. Read more AI-generated news on: https://app.chaingpt.org/news