Key Takeaway: Binance Labs Closes New $500M Investment Fund with Backing from Leading Global Institutional Investors; the new fund will invest in projects that can expand cryptocurrency use cases and drive adoption of Web 3 and blockchain technologies; the new fund will invest in three different stages: incubation, early-stage business and late-stage growth.

Binance Labs (Labs.Binance.com), the venture capital and incubation arm of Binance, announces the closing of a new $500 million investment fund. The fund is backed by leading global institutional investors such as DST Global Partners, Breyer Capital and Whampoa Group. Other large private equity funds, family offices and corporations have also subscribed to the fund as limited partners.

The new fund will invest in projects that can expand cryptocurrency use cases and drive adoption of Web3 and blockchain technologies.

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, it will accelerate the mass adoption of blockchain technology and cryptography. The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and lead Web3 across DeFi, NFT, games, Metaverse, social, and more.

Since 2018, Binance Labs has invested in and incubated over 100 projects in over 25 countries. Its portfolio includes cutting-edge projects such as 1 inch, Audius, Axie Infinity, Dune Analytics, Elrond, Injective, Polygon, Optimism, The Sandbox and STEPN.

Binance Labs makes investments through three different stages: incubation, early-stage enterprise, and late-stage growth.

With incubation, Binance Labs aims to connect projects to Binance’s network of resources, experts, and mentors to help them drive successful product development and growth. Binance Labs regularly runs its incubation program and is currently supporting its fourth cohort.

Business in the start-up phase investments include token and equity investments across all cryptocurrency and web3 sectors, including infrastructure, DeFi, NFT, gaming, Metaverse, social and crypto platforms.

Late growth investments target more mature companies looking to scale or connect to the Web3 ecosystem with the Binance ecosystem as a strong strategic partner.

The $500 million investment fund announced today is expected to be allocated to projects spanning all three stages.

Distributed by APO Group on behalf of Binance.

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