Yzi Labs, Family Office Founded by Binance Medter Changpen “CZ” Zhao, may be able to open up external investors, reported the Financial Times on Tuesday.
The $ 10 billion investment company, redirected from Binance Labs, is open to the possibility of converting to an investment fund, said Yzi Lab’s Ella Zhang head in an interview, according to the report.
“There are always a lot of external investors interested, and we will eventually consider making it an external fund,” Zhang said.
While yzi obviously has significant Nous in web3 investments, it is “still early” in artificial intelligence (AI) And Biotech, Zhang said.
“We form our team when we have that expertise … We are open to external investors,” she said.
Yzi Labs redirected from being Binance’s Venture Capital Arm to Zhao’s family office shortly after his release from prison after a four-month prison sentence for not creating a sufficient Know-Your-Customer program in Binance.
As part of his culprit, he withdrew as Binance CEO and has subsequently turned more of his attention to Yzi Labs, who manages the money to Zhao and colleague Binance co-founder Yi He, also his long-time partner.
Family offices are not open to external investors as they manage the wealth of a single family, so did not raise money from external sources.
Yzi Labs did not respond to Coindesk’s request for comment.
