Categories: Crypto & Market

Co-Founder Yi He Is The New Head Of Binance Venture Capital

(adsbygoogle = window.adsbygoogle || []).push({});

DUBAI, UAE, Aug. 3, 2022 /PRNewswire/ — Binance, the world’s leading blockchain ecosystem behind the largest cryptocurrency exchange, today announced the appointment of its Co-Founder Yi He as the new head of its venture capital (VC) arm and incubator, Binance Labs.

“As part of the founding team, Yi has been actively involved in Labs since its inception and has played a pivotal role in identifying early-stage projects and founders with the vision and drive to disrupt those global institutions that no longer serve society effectively,” says Binance CEO CZ (Changpeng Zhao).

“This is the perfect moment for Yi to take on a larger role in Labs as this market presents an unparalleled opportunity to identify those projects with the tenacity to thrive in tough market conditions.”

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 significantly supporting infrastructure projects and improving utility in innovative crypto and blockchain projects.

Yi He’s Vision

Her vision is to drive the future adoption of Web3 and blockchain technology by “building the standard for the blockchain industry.” Under Yi’s 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.

“Part of the journey of seeing Binance grow, especially through tough market conditions, has been the ability to identify those founders that have the skills and embody the values needed to thrive in an environment where resources are more limited. As a leading player in the space, my goal is to help define the industry standard by identifying and supporting sustainable projects and building an ecosystem of quality blockchain solutions that empowers the entire industry,” said Yi.

“It is a foregone conclusion that Web3 will reach one billion new users in the next five years. However, Web3 will only truly become mainstream when its products weave seamlessly into users’ lives. To expedite widespread adoption, we need to focus our resources on supporting those projects that will push the boundaries of Web3 technology and create products that provide solutions to real-world problems.”

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.

Yi will continue leading and supporting the organization’s key business initiatives and units including customer support, institutional business, marketing, Binance P2P and Earn.

(adsbygoogle = window.adsbygoogle || []).push({});
(adsbygoogle = window.adsbygoogle || []).push({});

admin

Recent Posts

US Inflation Has Dropped, Reducing Pressure On The Fed

The headline CPI inflation eased more than expected to +8.5%yoy (Jun-22: +9.1%yoy), below market consensus…

14 hours ago

How New Viruses Will Affect the Lives of 10m Americans

Humans and viral pathogens have co-existed for millennia. Some human viruses are gone as quickly…

2 days ago

Sciwind: Good Results In Ecnoglutide Weight Loss Clinical Trial

Sciwind says mean body weight loss of 9.6% and 9.0% in participants receiving 1.8 mg…

3 days ago

Commercial Production Of Lab-Grown Diamonds To Begin In Singapore

With the fire safety certificate issued by Singapore Civil Defence Force, Asian Eco can commence…

4 days ago

Ruicycle Raises Over RMB 300m In New Funding From Series B

Legend Capital's investments in the carbon-neutral field focus on energy decarbonization, vehicle electrification/intelligence, synthetic biology

4 days ago

New Addition For Talend With Amazon Redshift Serverless Support

Talend's support enables customers to achieve successful business outcomes using healthy data in Amazon Redshift…

4 days ago