Binance Labs, now operating as an independent venture capital arm, boasts an impressive track record with its portfolio achieving an average return on investment rate exceeding 14 times, as revealed in a recent announcement.
Following its separation from the Binance exchange, Binance Labs has transitioned into an independent entity. The venture capital fund’s portfolio, valued at over $10 billion, encompasses more than 250 projects spanning across 25 countries. This remarkable performance underscores the success of Binance Labs in identifying and nurturing promising ventures.
According to a blog post by Binance Labs on March 12, the fund focuses on investing in early-stage Web3 projects and provides comprehensive support, including personalized mentorship and access to resources within the broader Binance ecosystem.
This shift marks Binance’s strategic move to diversify its investment portfolio and expand its presence in the rapidly evolving blockchain and cryptocurrency space. Notably, Binance Labs operates autonomously, with its staff having separate contracts from employees of the Binance exchange.
The creation of this independent fund underscores Binance’s commitment to fostering innovation and growth within the crypto industry, further solidifying its position as a leader in the global blockchain ecosystem.
The post Binance announces divestment from Venture Capital Arm appeared first on Baffic.