Binance Labs , a venture capital and innovation incubator under the leading cryptocurrency exchange Binance , announced that it has completed the raising of a $500 million investment fund from leading global institutional investors, including DST Global Partners , Breyer Capital And some family offices, and some businesses as limited partners.
Binance stated that the new fund will be used to invest in projects that expand the use cases of crypto assets and promote the popularization of Web3 and blockchain technology.
Binance founder and CEO Changpeng Zhao (CZ) said,
In the world of Web3 , the connection between values, people, and economies is crucial. If these three elements can be combined to create an ecosystem together, the popularization of blockchain technology and encrypted assets can be accelerated. The newly raised fund is to explore potential Web3 projects and founders in the fields of DeFi , NFT, games, metaverse, and social networking, and support them to grow into builders and leaders in their respective fields.
Since 2018, Binance Labs has invested and incubated more than 100 projects from more than 25 countries, including cryptocurrency industry leaders such as 1inch Exchange , Axie Infinity , Chiliz , Polygon , The Sandbox , STEPN , etc.
Binance Labs invests in projects at different life cycle stages, including incubation, early venture, and late growth projects.
At the incubation level, Binance Labs aims to connect the project with Binance ‘s resources, experts, and mentors to assist in product development and growth of the project. Binance Labs looks for early-stage projects through a regular incubation program, which is currently in its fourth phase.
Early-stage VCs mainly focus on token and equity investments covering all areas of crypto assets and Web3 , including infrastructure, DeFi , NFT, games, metaverse, social, and crypto asset science platforms.
Late-stage growth investments target more mature companies and help these companies form reliable strategic partners with the Binance ecosystem to connect with the Web3 ecosystem .
Binance Labs noted that the $500 million fund will invest in all three-stage projects.
