Binance cuts ties with venture capital arm
Binance Labs’ portfolio averages an over 14 times return on investment rate, according to the announcement.
Binance Labs has become an independent venture capital arm, after severing ties with Binance exchange.
The independent VC fund’s portfolio is now worth over $10 billion, covering over 250 projects from over 25 countries, with an over 14x return on investment rate, according to a March 12 blog post by Binance Labs.
The arm seeks to invest in early-stage Web3 projects and offer support including one-to-one mentorship and access to resources in the wider Binance ecosystem
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