Binance Labs Raises $500M to Invest in Web 3 and Blockchain Companies

  • Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has raised $500 million to establish a fund that will invest in web 3 and blockchain companies.
  • The fund will make investments across companies in three stages: Incubation, early-stage venture, and late-stage growth.
  • Binance Labs’ fund is the latest in a string of recently established crypto funds by venture capitalists, with Andreessen Horowitz raising $4.5 billion last week to demonstrate confidence in the market in spite of the recent downturn.
[Via]

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