Binance Labs, the venture capital and incubation arm of global cryptocurrency exchange Binance, has announced the establishment of a new $500 million investment fund.
The new fund will invest in ideas that will broaden the applications of cryptocurrencies and boost the adoption of Web3 and blockchain technologies. As a limited partner, it is supported by worldwide institutional investors such as DST Global Partners and Breyer Capital and other prominent private equity firms, family offices, and corporations.
Changpeng Zhao ‘CZ’, Founder and CEO of Binance, said: “In a Web3 environment, the connection between values, people, and economies is essential, and if these three elements come together to build an ecosystem, that 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.”
Binance Labs has invested in and incubated over 100 businesses from over 25 countries since 2018. 1inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Polygon, Optimism, The Sandbox, and STEPN are among its industry-leading projects.
Binance Labs will invest in firms at three stages of development: incubation, early-stage growth, and late-stage growth. Binance Labs’ goal with incubation is to connect startups with Binance’s network of resources, experts, and mentors in order to assist them achieve successful product development and growth. Binance Labs also has an Incubation Program in its fourth batch.
Token and stock investments in early-stage ventures span all sectors of cryptocurrency and Web3, including infrastructure, DeFi, NFTs, gaming, Metaverse, social, and crypto adoption platforms. Late-stage growth investments target more mature enterprises seeking to scale or enter the Web3 ecosystem, with the Binance ecosystem serving as a strong strategic partner.
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