Binance Labs Raises $500M Fund for Web 3, Blockchain Investments

The new fund will invest in cryptocurrency companies in three stages spanning from incubation to late-stage growth.

AccessTimeIconJun 1, 2022 at 10:51 a.m. UTC
Updated May 11, 2023 at 4:23 p.m. UTC

Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has raised $500 million to establish a fund that will invest in Web 3 and blockchain companies.

  • DST Global Partners, Breyer Capital, Whampoa Group and other private equity funds all participated in the raise, according to a blog post on Wednesday.
  • "The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web 3 across DeFi, NFTs, gaming, Metaverse, social, and more,” Binance CEO Changpeng "CZ" Zhao said.
  • The fund will make investments across companies in three stages: incubation, early-stage venture and late-stage growth.
  • Binance Labs' fund is the latest in a string of recently established crypto funds by venture capitalists, with Andreessen Horowitz (a16z) raising $4.5 billion last week to demonstrate confidence in the market in spite of the recent downturn.
  • The entire market cap for cryptocurrencies is at $1.3 trillion, a 55% drop since November when it was at $2.9 trillion.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.