Binance Venture Capital Arm Raises $500 Million For Blockchain Investment

Changpeng Zhao ‘CZ’, Founder and CEO of Binance, stated that:“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 its inception in 2018. 1inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Optimism, The Sandbox, and STEPN, Polygon, a decentralized Ethereum-focused layer-2 scaling platform, are among its portfolio’s industry-leading projects. 

The new fund will invest in incubation, early-stage ventures, and late-stage growth at three different stages. 

 

Three Different Stages:

Incubation:

Binance Labs’ incubation program aims to connect businesses with Binance’s network of resources, experts, and mentors. So that it can help them develop and grow successful products. Binance Labs’ Incubation Program runs regularly, and the fourth batch is currently supported. 

Early-Stage Venture:

In the early-stage venture, infrastructure, Defi, NFTs, gaming, Metaverse, social, and crypto adoption platforms are among it which include token and equity investments across all sectors of cryptocurrency and Web3. Also, there are some un-defined sectors that Binance wants to be prepared.

Late-Stage Growth:

Late-stage growth investments strive at more mature businesses intending to scale or bridge into the Web3 ecosystem, with Binance as a strong strategic partner.

 In fact, the executive director of investments and M&A, Ken Li said that the incubation program is intended for Web3 startups, but comparable to Web 2.0 accelerators like Y Combinator. According to Li, each program is run in batches or seasons, with “season four” incubating 14 projects picked from over 500 applicants.