Binance Labs, the venture capital and incubation arm of Binance, has closed a $500 million investment fund.
The fund is supported by leading global institutional investors such as DST Global Partners, Breyer Capital, and Whampoa Group. Other major private equity funds, family offices, and corporations also subscribed to the fund 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.
“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,” said Changpeng Zhao (CZ), founder and CEO of Binance.
“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.”
Since 2018, Binance Labs has invested in and incubated more than 100 projects from over 25 countries. Its portfolio includes industry-leading 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, Binance Labs says 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.
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.