HomeNewsBinance Labs raises funds for focusing on Web3 and Blockchain adoption

Binance Labs raises funds for focusing on Web3 and Blockchain adoption

Binance Labs is a venture capital firm that identifies, invests, and empowers viable blockchain entrepreneurs, startups, and communities. They had started a fundraiser, raising $500 million to launch a fund that’ll invest in Web3 and blockchain business.

According to its blog post, the fundraising included DST Global Partners, Breyer Capital, Whampoa Group, and other private equity groups.

In fact, the founder and CEO of Binance, Changpeng Zhao 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, that will accelerate the mass adoption of the blockchain technology and crypto.”

Moreover, he also stated that the fund’s purpose is to discover and assist projects creating and lead Web3 spanning across DeFi, NFTs, gaming, metaverse and more.

The fund is aiming to invest in companies that are in three stages: incubation, early-stage venture and late-stage growth.

Binance Labs’ incubation program will link businesses with Binance’s network of resources, experts, and mentors. This will help them create and grow successful products.

Moving on, early-stage venture investments include token and equity investments across all sectors of crypto and Web3. These include infrastructure, DeFi, NFTs, gaming, social and crypto adoption platforms.

Finally, late-stage growth investments aim at more established enterprises wanting to scale or bridge into the Web3 ecosystem.

Besides Binance Labs, Andreesen Horowitz (a16z) launched a $4.5 billion last week, showing confidence in this sector. Also, former Binance executives Ling Zhang and Wayne Fu had recently unveiled a $100 million fund known as Old Fashion Research.

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