Binance Taps Co-Founder Yi He to Head $7.5B Venture Arm

Binance Labs announced a new $500 million fund in June to invest in Web3 and blockchain projects.

AccessTimeIconAug 3, 2022 at 3:07 p.m. UTC
Updated May 11, 2023 at 6:52 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

  • Binance Labs, which focuses on early-stage investments, manages $7.5 billion in total assets across more than 200 portfolio projects, according to a press release. Portfolio companies include Ethereum sidechain Polygon, crypto exchange FTX and security firm CertiK.
  • Yi, who joined Binance just before its launch in 2017, will oversee global strategy and day-to-day operations of Binance Labs with a particular focus on supporting infrastructure projects and improving utility in crypto and blockchain projects.
  • She will continue her work with the parent company, including institutional businesses, marketing, Binance P2P and Earn.
  • During a CNN appearance on Wednesday, Binance CEO Changpeng Zhao said Yi is "very aggressive" and that Binance would be making "quite a lot of investments" in the near term. He also said Binance as a whole plans to continue hiring, with a target of expanding headcount from the current 6,000 to 8,000 by the end of the year.
  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • Why the NEAR foundation Chose Eigenlayer as a Security Partner
    00:54
    Why the NEAR foundation Chose Eigenlayer as a Security Partner
  • Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
    07:08
    Judge Kaplan Had 'No Love' for Sam Bankman-Fried, Legal Expert Says
  • How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
    01:11
    How Bitcoin and Ether's Options Contracts Combined Expiry Could Spike Volatility
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.