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Laxman Pai, Opalesque Asia: Cryptocurrency exchange Binance has appointed co-founder Yi He to oversee its venture capital arm, Binance Labs, two months after it raised $500 million for a new fund focused on Web3 and blockchain investments.
According to a press release from the Cayman Islands-based blockchain ecosystem behind the cryptocurrency exchange, Binance Labs, which focuses on early-stage investments, manages $7.5 billion in total assets across more than 200 portfolio projects.
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.
"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," CZ (Changpeng Zhao), Binance CEO, said.
Furthermore, Yi will lead global strategy and the day-to-day operations at Binance Labs. Part of her focus will be on supporting infrastructure projects and improving utility in innovative crypto and blockchain projects.
Her vision is to drive the future adoption of Web3 and blockchain technology by "building the standard for the blockchain industry," said the release. Under Yi's leadership, Binance Labs will have an additional emphasis on investing in capable, drive...................... To view our full article Click here
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