‘Establishing Blockchain Industry Standards’

Leading crypto exchange Binance has appointed Co-Founder He Yi as the head of Binance Labs, its venture capital and incubation division. With this new appointment, 36-year-old He will be responsible for Binance Labs’ global strategy and day-to-day operations. Binance Labs currently manages about $7.5 billion in total assets, making it the largest crypto-asset venture capital firm in the industry.

On the first of June, Binance Labs closed a $500 million investment fund with partners including Breyer Capital, Whampoa Group, DST Global Partners, and more. 

The investment fund is to cover all areas of the cryptocurrency sector and will be distributed to projects under three stages of investment: incubation, early-stage venture, and late-stage growth.

According to a press release from Binance, He stated that their vision is to promote the popularization of Web3 and blockchain technology by “establishing blockchain industry standards,” and Binance Labs will also focus on investing in more capable, long-term-minded pioneers and shapers of the industry’s future.

He will continue to lead and support key Binance businesses and departments, including customer service, institutional business, marketing, Binance C2C and Binance Wealth Management.

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What Is Binance Labs: 

Binance Labs is created with the objective to identify, invest and power blockchain entrepreneurs, startups, and communities by providing financial resources to industry projects thus enhancing the growth of the blockchain ecosystem. 

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Learn more about Binance Labs:

‍Website | Twitter

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