Binance creates $500 million fund to invest in Web3

Home / Binance creates $500 million fund to invest in Web3

The venture capital arm of cryptocurrency exchange Binance, Binance Labs, has raised $500 million to create a fund that will invest in Web3 companies and blockchain technology.
DST Global Partners, Breyer Capital, Whampoa Group and others participated in funding the fund.
“The goal of this new investment fund is to find and support projects and their founders who can create and lead Web3 in DeFi, NFT, games, meta universes, social networks and more,” said Binance CEO Changpeng “CZ” Zhao.
The fund will invest in companies in the incubation, early-stage and late-stage development phases.

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