Yzi Labs, former Binance Labs, introduced a $ 1 billion fund for projects based on the BNB chain.
The investment company, which was redirected from the Crypto Exchange Binance Venture arm last year, is targeting BNB-based projects in areas such as trade, real-world assets (RWAs), artificial intelligence (AI), decentralized funding (DEFI) and wallets, according to a X-Wednesday announcement.
Yzi Labs said it wants the BNB ecosystem to form a backbone of “democratized access and ownership, AI to improve human potential and biotech to improve the quality of life.”
“Through this $ 1B BNB Builder Fund, Yzi Labs is obliged to support BNB barley men across sectors such as Defi, AI, RWA, Desci and more – those who build the next generation of open systems connecting technology back to human progress,” said Ella Zhang, head of Yzi Labs.
Following Binance -founder Changpen “CZ” Zhao’s release from the prison last year, he took a more active role in the company’s venture capital arm, redirected Yzi Labs, to target startups in web3, AI and biotech.
In fact, Yzi Labs is often referred to as Zhao’s family office – the name of an investment vehicle that controls the wealth of a single family. However, the company says that its structure is different from a traditional family office as it does not get involved in real estate planning, tax structure and so on.
