The closing of the $500 million investment fund is a major milestone for Binance Labs and a testament to the growth of the Web3 ecosystem.
Binance Labs is committed to supporting the development of this technology and helping build a more inclusive and decentralized future.
The new fund will allow Binance Labs to continue its support of the Web3 ecosystem and help accelerate the adoption of blockchain technology.
Binance Labs, the venture capital and incubation arm of Binance, has closed a $500 million investment fund to power blockchain, Web3 and value creation technologies. The fund will invest in projects in three stages: incubation, early-stage entrepreneurship, and late-stage growth.
The fund is backed by the world's leading institutional investors, including DST Global Partners, Breyer Capital and other leading private equity funds, family offices and corporations.
âWe are pleased to announce the closing of our $500 million investment fund,â said Ken Li, Executive Director of Investments and M&A at Binance Labs. âThis fund will allow us to continue our mission of supporting the growth of the Web3 ecosystem by investing on promising projects that have the potential to have a positive impact on the world.â
Binance Labs has a proven track record of success in identifying and supporting promising blockchain projects. Since its inception in 2018, Binance Labs has invested in more than 100 projects, including 1 Inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Polygon, Optimism, The Sandbox, and STEPN.
âWe believe that blockchain technology has the potential to revolutionize many industries and we are committed to supporting the development of this technology,â said Changpeng Zhao, CEO of Binance. "The new fund will allow us to invest in promising projects that are building the future of Web3."