Binance Labs is the venture arm of Binance, existing to grow the blockchain and crypto ecosystem by consistently explore, evaluate, invest, and facilitate ideas that will increase crypto adoption. They Incubate top Builders/Founders and Invest into top Projects with moonshot ideas, proven p/m fit, fast execution team with long-term value.
Aims and Description
The mission of Binance Labs is to support industry projects that help grow the larger blockchain ecosystem, realizing the full potential of blockchain technology and its social impact, while increasing cryptocurrency adoption globally.
There are two investment strategies:
- Direct Investment, which supposes the investment in startups with a working product
- Incubation Program, which is a 10-week on-site program to support early-stage startups to find product-market fit
Binance Labs actively looks for projects to invest in all around the world. Labs' investment focus includes (but it is not limited to) regions such as Africa, Latin America, Europe, North America, Asia as well as the following verticals of the industry for each region:
- Africa/ Latin America
- Fiat-on/ off-ramp channels
- Trading Infrastructure
- Asia/ North America/ Europe
- Public Blockchain
- Clients (Wallets/ Plugins)
The fund has already invested in a lot of cryptocurrency projects, e.g., Oasis Labs, Mobile Coin, Republic, Certik, Pivot, Cred, BTT, Terra, etc.
User needs to pass the application form in order to participate in the program. There are some questions like 'How long have the founders known one another and how did you meet?', 'When and how did you get into crypto? What were you doing before?', 'How many dedicated full-time team members do you have?'. All in all, it's like an ordinary application form, which can allow somebody to promote a project in the cryptocurrency field.
The main team consists of six employees, here they are:
- Ella Zhang - Head of Binance Labs
- Christy Choi - Director at Binance Labs
- Shane Qiu - Researcher at Binance Labs
- Yele Bademosi - Ambassador of Africa
- Mary Saracco - Ambassador of Latin America
- Batuhan Dasgin - Ambassador of Europe