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
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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.

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Oliver Knight

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


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