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Binance Labs Announces New Web3 Fund | RE3W.IO

Binance Labs Announces New Web3 Fund

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Binance Labs, the venture capital arm of cryptocurrency exchange Binance, has raised $500 million to establish a fund that will invest in web3 and blockchain companies. DST Global Partners, Breyer Capital, Whampoa Group and other private equity funds participated in the raise.

The fund will make investments across companies in three stages ranging from incubation to early-stage venture and late-stage growth. Binance Labs’ most recent strategic investment was with STEPN by Find Satoshi Lab, a web3 move-and-earn app.

Binance CEO Changpeng Zhao stated: “The goal of the newly closed investment fund is to discover and support projects and founders with the potential to build and to lead Web 3 across DeFi, NFTs, gaming, Metaverse, social, and more.”

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