Binance Labs Closes $500 Mn Invt Fund To Boost Blockchain, Web3 & Value-Building Tech

Binance Labs makes investments across three different stages: incubation, early-stage venture and late-stage growth

By
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Binance Labs, the venture capital and incubation arm of Binance, the world's largest crypto exchange by volume, has announced the closing of a new $500 million investment fund.

freepik

The fund is supported by global institutional investors such as DST Global Partners and Breyer Capital as well as other private equity funds, family offices and corporations as limited partners.

The new fund will invest in projects that can extend the use cases of cryptocurrencies and drive the adoption of Web3 and blockchain technologies, said a statement.

"In a Web3 environment, the connection between values, people and economies is essential, and if these three elements come together to build an ecosystem, it will accelerate the mass adoption of the blockchain technology and crypto. The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web3 across DeFi, NFTs, gaming, Metaverse, social, and more," said Changpeng Zhao, founder and CEO, Binance.

Since 2018, Binance Labs claims to have invested in and incubated more than 100 projects from over 25 countries. Its portfolio includes important projects such as 1inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Polygon, Optimism, The Sandbox and STEPN.

Binance Labs makes investments across three different stages: incubation, early-stage venture, and late-stage growth. With incubation, it aims to connect projects with Binance's network of resources, experts, and mentors to help them drive successful product development and growth. Binance Labs runs its Incubation Program regularly and is currently supporting its fourth cohort, said the statement.

Early-stage venture investments include token and equity investments across all sectors of cryptocurrency and Web3, including infrastructure, DeFi, NFTs, gaming, metaverse, social and crypto adoption platforms. Late-stage growth investments target more mature companies looking to scale or bridge into the Web3 ecosystem with the Binance ecosystem as a solid strategic partner.

The $500 million investment fund announced today is expected to be allocated to projects spanning all three stages, said the statement.