Binance Web3 VC Investment Return Exceeds 1,300%

Binance Labs, the venture capital and incubation arm, announced the start of accepting applications under the next incubation program for Web3 projects. It also became known that the company’s capitalization exceeds $10 billion.

Representatives of Binance Labs announced the start of its seventh incubation program for Web3 projects. The program offers a flexible educational course, individual mentoring from the fund’s investment team, and access to resources in the Binance ecosystem. Applications will be collected until April 15, 2024.

As part of the program, Binance Labs is interested in projects working in the following areas:

• decentralized infrastructure: modular blockchains, DePIN, AI infra, products based on the Bitcoin network, etc.;
• decentralized finance (DeFi): institutional solutions, liquid staking and restaking protocols, parametric insurance, decentralized stablecoins, etc.
• application solutions: decentralized apps based on AI, AAA blockchain games, DeSci projects, SocialFi protocols, etc.

The press release also states that Binance Labs’ portfolio currently includes 250 Web3 projects from more than 25 countries. About 50 of them passed the fund’s incubation program. The company is valued at over $10 billion, and its return on investment exceeds 1,300%.

According to Bloomberg, Binance Labs was no longer part of the Binance Group structure and became an independent company at the beginning of 2024. Alex Odagiu, Investment Director at Binance Labs, confirmed this information in the publication. The fund also has personal contracts with employees of the cryptocurrency exchange. It’s worth noting that BNB Chain interacts similarly with Binance.

Judging by the Bloomberg report, changes in the structure of Binance Group occurred in early 2024. These changes can be directly related to the settlement of claims from regulators in the United States and Changpeng Zhao’s resignation from the CEO post. The separation of Binance Labs could signify a more global restructuring of Binance Group that isn’t being publicized.

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