Binance Labs

Binance Labs invests its own funds or engages other venture capital firms. Launchpool and Launchpad offer the mechanics of getting investment from private exchange users without having to provide stock funds.

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Den største kryptobørs, hvor du hurtigt og sikkert kan starte din rejse i kryptovalutaernes verden. Platformen tilbyder hundredvis af populære aktiver, lave provisioner og avancerede værktøjer til handel og investering. Nem registrering, høj transaktionshastighed og pålidelig beskyttelse af midler gør Binance til et godt valg for handlere på alle niveauer!

Founders and participants

Binance Labs was created right after the exchange launched in 2017. From its inception until 2022, the fund was led by Bill Qian. Since last year, the project has been led by Yi He. She is considered Changpeng Zhao’s second person and partner in managing the exchange and subsidiaries.

In addition to the foundation, Yi is in charge of business promotion of the entire Binance ecosystem as Chief Marketing Officer (CMO). She also heads the token listing arm of the exchange.

The fund has recruited bankers with experience at large investment firms. In September 2023, the team includes:

• Dana Hou (Dana Hou) is an ex-macro strategist at Goldman Sachs.
• Andrew C. is a strategic integration (mergers and acquisitions) specialist. As part of BL, Andrew has responsibilities in the same area.
• Alex Odagiu is a banker with two years of experience at a London-based technology fund. He also worked at Goldman Sachs (4 years).
• Jerry Zhao is an ex-investment specialist at GenesisCare Venture Capital and Morgan Stanley.
• Nicola Wang is a former consultant with three decades of experience in cryptocurrencies, IT infrastructure solutions and TMT (“Technology, Media and Telecommunications”).
• Michael Siu is a venture capitalist at private equity funds OCP Asia and HOPU Investments (past position).
• Kevin Poh is a former employee of the Monetary Authority of Singapore (MAS).
• Kenneth Chan – Previously served as the manager of corporate restructuring and partnership ventures. In the BL team, Chan also focuses on this area.

Portfolio

More than 200 projects have received investment from the Binance fund. Apart from the instant “financial elevator”, the startups are gaining visibility in venture capital circles. This helps to raise additional funds for the realization of the next stage of development. Therefore, publications about business and cryptocurrencies actively cover the topics of Binance Labs, its projects and programs. The table shows the startups and operating companies that have received the largest investments from the fund.

MVB program

In 2021, Binance Labs launched its first accelerator (incubation) program. The format resembles a competition between teams for investment. Gas pedals are called incubators for their ability to unlock potential and “grow” a working technology out of an idea.

Supporting projects at an early stage of development within the framework of the program is a common tool for solving 2 tasks:

• Financial assistance to budding startups.
• Development and filling new ecosystems with tools.

The gas pedal from Binance Labs is called Most Valuable Builder. It is abbreviated as MVB. To participate, teams must propose a relevant innovation suitable for the parent blockchain of the Binance Smart Chain ecosystem.

The fund not only financially supports the teams, but also organizes intensives and consultations with involved experts in marketing and development. In this way, promising crypto startups can quickly realize an idea.

Based on the results of participation, the team can receive investments from $10 thousand to $2 million. The gas pedal consists of 3 phases:

1. The first phase is the submission of applications and selection of the top 20. Then the fund organizes conferences, intensives and consultations – usually within 2-4 weeks. The teams use the knowledge gained to implement the idea on their own.
2. The second stage is the selection of the first startups for financial support. Ten projects that have shown the best results get to this stage. Each of them can receive up to $10 thousand.
3. The third stage – the top 5 and the MVB leader. The 5 most productive teams according to the results of the first part of the investment remain on this stage. External venture companies pay attention to them and they are also invited to participate as experts. The top 5 can additionally receive up to $100 thousand. The most promising projects receive funding of up to $2 million.

By 2023, 6 launches of separate MVB programs have been successfully completed. The last gas pedal ended in June.

Existing partner funds

Binance Labs also helps startups find common ground with other venture capital firms. There are 330 organizations involved in programmatic and collective investment partnerships. The following funds have joined Binance Labs in the largest collaborations:

• Animoca Brands – co-investments of 12 projects.
• HashKey Capital – 10.
• Coinbase Ventures – 9.
• NGC Ventures – 8.
• Hashed Fund – 7.
• IOSG – 6.
• Andreessen Horowitz (a16z) – 6.
• LD Capital – 5.
• FTX Ventures – 5.

What projects Binance Labs invests in

In total, the fund has invested more than $3.5 billion in crypto startups. There are several priority industries for funding to choose from.

Frequently asked questions