Binance, the blockchain ecosystem behind the largest cryptocurrency exchange, appointed its Co-Founder Yi He as the new head of its venture capital (VC) arm and incubator, Binance Labs.
Binance Labs is the largest crypto VC in the industry by Asset Under Management (AUM) with a Multiple on Invested Capital (MOIC) of 21.0x, a performance metric that is unmatched in the industry. Binance Labs manages total assets of $7.5 billion, consisting of more than 200 portfolio projects.
Yi will lead global strategy and the day-to-day operations at Binance Labs. Part of her focus will be on supporting infrastructure projects and improving utility in innovative crypto and blockchain projects. Yi will continue leading and supporting the organization’s key business initiatives and units including customer support, institutional business, marketing, Binance P2P and Earn.
Under her leadership, Binance Labs will have an additional emphasis on investing in capable, driven founders who will play a role in shaping the future of the industry.
Since its inception, Binance Labs’ investment strategy has focused on early stage projects in key verticals. This strategy has seen Binance Labs incubate some of the industry’s most successful projects, including Polygon, FTX, Certik, Nym, and Dune Analytics.
The team recently closed a $500 million investment fund which includes participation from global institutional investors such as DST Global Partners and Breyer Capital. Some of the latest portfolio companies and key projects include pStake and Ultiverse.
FinSMEs
03/08/2022