Binance Co-founder Yi He Tapped to Lead US$7.5 Billion VC Armby Fintech News Singapore August 4, 2022
Global cryptocurrency exchange Binance announced that its Co-founder Yi He will be the new Head of Binance Labs, its venture capital (VC) arm and incubator.
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.
Under Yi’s leadership, Binance Labs will have an additional emphasis on investing in capable, driven founders who will play a role in shaping the future of the industry.
Yi will continue leading and supporting Binance’s key business initiatives and units including customer support, institutional business, marketing, Binance P2P and Earn.
Binance Labs manages total assets of US$7.5 billion, comprised of more than 200 portfolio projects.
Since its inception, Binance Labs’ investment strategy has focused on early-stage projects in key verticals including Polygon, FTX, Certik, Nym, and Dune Analytics.
The team has recently closed a US$500 million investment fund that includes participation from global institutional investors such as DST Global Partners and Breyer Capital. Some of the latest portfolio companies and key projects include pStake and Ultiverse.
“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.
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.”
said Changpeng Zhao(CZ), CEO of Binance.
“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,”