Binance Labs has announced the closure of an investment fund worth $500M. The project was supported by major international institutional investors. The fund will be for projects that aim to broaden the application of cryptos and Web 3. There’ll be 3 areas of focus for the new fund. They are early-stage ventures, late-stage growth, and incubation. #Binance Labs closes $500M investment fund to boost blockchain, web3, and value-building technologies! The fund is supported by leading global institutional investors such as DST Global Partners, Breyer Capital, & more. — Binance (@binance) June 1, 2022 Binance Labs Close New $500M Investment Fund Binance Labs closed a $500M investment fund, the company announced. One of the fund’s major backers is Breyer Capital, backed by DST Global Partners. Limited partners included other prominent private equity firms, family offices, and companies. The fund will be for projects that’ll broaden the scope of cryptocurrency applications. It’ll also help promote the use of Web3 and blockchain networks. Changpeng Zhao says there were suggestions for a Web3 setting. For instance, the link between people and businesses is crucial. It will speed up the widespread adoption of blockchain technology and cryptos. But, that’s if these three aspects come together to establish an environment. It’s an investment fund to help projects and innovators build and lead Web3 projects. About Binance Labs Binance Labs f...
