Binance appointed co-founder Yi He as head of its venture capital and incubation agency Binance Labs in August. In a recent interview, he said he will continue to actively invest in the bear market, and shared three areas they are focusing on.
(Review:Binance Announces Yi Will Take Over Binance Labs With $7.5 Billion Under Management)
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With total assets of $7.5 billion and investments in more than 200 projects, Yi He is the current head of Binance Labs, a venture capital and incubation organization under Binance. Earlier in an interview with Forkast, she said that she has active plans for the development of the sector, and that they should invest more actively in a crypto bear market.
I look for early stage projects that will provide long term benefits to the industry and see opportunity in the current bear market conditions.
“Copycat” projects that are whimsical to make a quick buck have to be filtered out… Such projects do not have a solid business model and will not last.
According to a press release issued by Binance Labs last month, since the establishment of the division in 2018, it has achieved a 21x return, incubating many successful projects in the industry, such as Polygon, FTX, Certik, Nym, Dune Analytics, etc.; and recently completed a US$500 million fundraising, with the participation of global investment institutions including DST Global Partners and Breyer Capital.
How to choose investment targets?
When asked how you chose which projects to invest in? Yi said that Binance Labs is working on three types of companies:
1. Projects to build infrastructure
Ho believes that the crypto industry is still in its early stages. But in the future, she predicts that people should be able to use blockchain-native products anywhere, just as we are used to office software and social media today.
It’s just that there are still some technical bottlenecks. So infrastructure is an area that we will continue to invest in, whether it’s a layer 1 initiative or a cross-chain protocol.
2. Innovative applications with a large user base
The second type of projects are those that run various blockchain applications. They are rich in innovation and have a large user base, such as projects using game-to-money (P2E) or mobile financial models.
3. Blockchain-related service providers
Binance Labs focuses on companies that provide blockchain-related services to support the better development of the industry, such as data security. After all, in the Web3 industry, project hacking happens all the time.
Yi emphasized that Binance’s investment projects are not just about making some quick money, they put more emphasis on “long-term development”. Although she does not shy away from saying that there are founders and entrepreneurs who find it easy to raise money in Web3 and start lying down, she believes that many people in this industry are still exploring different ways to succeed, and we hope that Find those who value long-term development.
Investing $200 million in Forbes faces a conundrum
In addition, when the host asked about the latest status of Binance’s $ 200 million strategic investment in the media giant Forbes in February this year. Yi said they are still watching the investment case, but there seem to be some difficulties at the moment, and some of their shareholders may want to dilute their holdings in Binance.
Yi cites Musk’s desire to acquire Twitter as an example. Binance is willing to put in $500 million to assist with the acquisition because they see it as a great opportunity, which is good for Web3 education because of Twitter’s huge user base.
However, in the end, He Yi said that they did not actually list the media as a specific investment target, but said that if they came across a good target, they would still pay attention.
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