Binance Labs to Participate in the $30 million Debut Fund of Gold House
Binance Labs, the venture capital arm and innovation incubator of Binance, is pleased to announce it participated in the fundraising of Gold House Ventures, the debut fund of Gold House, the premier collective of Asian and Pacific Islander (API) leaders fighting together for socioeconomic equity by convening, investing in, and promoting API creatives and companies.
The newly launched fund of Gold House invests directly in founders of API descent; corrals capital through its preeminent API investment network which includes top angels and venture capital firms; amplifies portfolio companies through industry-focused incubation programs alongside the nation’s first and leading API accelerator (Gold Rush); provides extensive marketing and talent recruitment support; and contributes 100% of its management fee and profits back to Gold House, the nonprofit, to further the organization’s history-making work.
Ken Li, Investment Director at Binance Labs, said: “Binance has always sought to partner with talented founders and builders at the earliest stages via both Incubation Program as well as venture investing practices. We are excited to be a major investor in Gold House Ventures, especially as the team increasingly looks at potential opportunities in Web 3.0.”
“Gold House was forged to rewrite history that’s been handed to us — to build our own houses rather than just live in someone else’s. Our movement began by reshaping public opinion through film and TV consultation, delivering successful opening weekends, and winning awards seasons because what we see on screen alters what we believe. Now, it’s time to ensure that what we believe is who we can become — not just for the API community but for all communities through equitable hiring, multicultural consumer engagement, and collective economic success,” said Bing Chen, President & Co-Founder of Gold House and General Partner of Gold House Ventures.
Gold House Ventures invests across industries, primarily in early-stage startups, though it will participate opportunistically in growth-stage financing rounds — always in lockstep with world-class investors who are founding members and supporters of Gold House. These investing partners include Accel, Alley Corp, Bain Capital, Basis Set, Bling Capital, CircleUp, Coatue, Decibel, Eniac, Floodgate, General Catalyst, GGV, Goodwater, Graph Ventures, Imaginary Ventures, Juxtapose, Lightspeed, Maveron, Mayfield, NEA, Northzone, Tribe, Trinity, Upfront, Wing VC, Xfund, and a growing list of top early stage funds across industries.
“Many of the world’s most iconic companies, from Doordash to Credit Karma to Binance, are founded and run by API entrepreneurs. We want to back the next generation of great API founders but also shine a spotlight on their success to inspire even more people in our community to pursue their entrepreneurial dreams.” said Eric Feng, General Partner of Gold House Ventures and former General Partner at Kleiner Perkins.