- Binance Labs has more than 200 portfolio projects and $7.5 billion worth of assets under management.
- Part of Yi’s focus will be on significantly supporting infrastructure projects and improving utility in innovative crypto and blockchain projects.
- This comes two months after Binance Labs launched a $500 million Web3 fund.
Binance today announced that it has appointed its co-founder, Yi He, as the new head of its venture capital arm, Binance Labs.
This move comes after Binance Labs’ former head, Bill Chin, left the company for personal reasons, according to a Binance spokesperson.
Binance Labs has more than 200 portfolio projects and $7.5 billion worth of assets under management.
“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,” said 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.”
In her new role, 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.
“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.
Yi will continue leading and supporting Binance in areas including customer support, institutional business, marketing, Binance P2P and Earn.
Since its inception in 2018, Binance Labs has invested in and incubated early-stage Web3-related projects, including some of the most successful ones like Polygon, FTX, Certik, Nym, and Dune Analytics. Binance Labs’ Founding Director from 2018-2020 was Christy Choi, who is now the co-founder of virtual gaming studio, AO Labs.
Binance Labs recently launched a new $500 million Web3 fund to invest in early-stage startups. Some of the portfolio companies of this new fund include liquid staking protocol, pStake, and social gaming metaverse builder, Ultiverse.
Besides Yi and Choi, women who have taken on leadership roles at Binance include Helen Hai. She has been with the company since 2018, and concurrently holds the following roles: Head of Europe & UK, Head of NFT & Fan Token, Head of Global Fiat exchange and Head of Binance Charity Foundation.
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