Binance Labs, a leading force in the crypto venture capital space, has officially rebranded to YZi Labs and announced its first major investment under the new name. The firm has committed $16 million to Sign, a platform specializing in on-chain credential verification and token distribution. This funding round also saw participation from prominent venture capital firms including Altos Ventures, Hack VC, and Amber Ventures.
Sign aims to enhance the infrastructure for token distribution by integrating verified credentials, which helps to simplify and secure the process of issuing digital assets. This is particularly important for maintaining trust and efficiency within the blockchain ecosystem. By backing Sign, YZi Labs reinforces its commitment to Web3 innovation, building on the strong legacy it established as Binance Labs.
This investment signals YZi Labs' strategic expansion beyond the cryptocurrency sector into other transformative fields such as artificial intelligence and biotechnology. The move aligns with the firm's broader mission to support visionary founders and generate long-term societal impact. Under the leadership of Ella Zhang, who co-founded Binance Labs in 2018 and has returned to guide YZi Labs, the firm leverages its extensive experience in early-stage venture capital to drive innovation across multiple industries.
Strategic Vision and Leadership
YZi Labs operates with a clear focus on fostering groundbreaking technologies and supporting entrepreneurs who are pushing the boundaries of what's possible. The firm's management, which oversees approximately $10 billion in assets, brings a wealth of knowledge from its portfolio of over 250 companies across 25 countries.
Changpeng Zhao, the founder of Binance, continues to play an important advisory role at YZi Labs, offering strategic guidance and mentorship to the startups in its portfolio. This approach is consistent with his broader focus on investments that promise significant social impact, following his departure from day-to-day operations at Binance. His involvement underscores a dedication to nurturing innovation and helping new entrepreneurs navigate the complexities of the modern business world.
Expanding Focus to AI and Biotech
The rebranding to YZi Labs marks a significant evolution, positioning the firm as a key player in venture capital with a multidisciplinary approach. While Web3 remains a core area of interest, the team is increasingly drawn to the transformative potential of AI and biotechnology. This shift reflects a wider trend in the venture capital ecosystem, where investors are prioritizing sectors that offer substantial societal benefits.
YZi Labs plans to revive its incubation program with a new 12-week, in-person residency designed to foster collaboration and innovation among startups. This initiative will focus on companies operating at the intersection of Web3, AI, and biotech, further solidifying the firm's commitment to a cross-disciplinary vision. 👉 Explore more strategies for startup growth
The Future of Token Distribution and Web3
Sign’s platform addresses a critical need in the blockchain space by ensuring that token distribution is both efficient and secure. The use of verified credentials helps to reduce fraud and increase transparency, which can encourage broader adoption of digital assets. As the ecosystem evolves, solutions like those offered by Sign will play an essential role in shaping the future of decentralized finance and Web3 applications.
YZi Labs’ investment in Sign is more than just a financial commitment; it is a endorsement of the platform’s potential to drive meaningful change. By supporting infrastructure projects that enhance security and usability, YZi Labs is contributing to the maturation of the entire blockchain industry.
Frequently Asked Questions
What is YZi Labs?
YZi Labs is the rebranded version of Binance Labs, a venture capital firm that invests in innovative projects within Web3, artificial intelligence, and biotechnology. It manages a large portfolio and focuses on supporting founders who aim to create positive social impact.
What does the Sign platform do?
Sign is a token distribution platform that uses on-chain credential verification to make the process of issuing digital tokens simpler and more secure. It helps maintain trust and efficiency in the blockchain ecosystem by integrating verified identity and credential data.
Why did YZi Labs expand into AI and biotech?
The expansion reflects a strategic shift towards supporting transformative technologies with significant societal benefits. By investing in AI and biotech alongside Web3, YZi Labs aims to drive innovation across multiple high-impact sectors.
Who is leading YZi Labs?
Ella Zhang, who co-founded the original Binance Labs in 2018, is leading YZi Labs. The team also receives strategic guidance from Changpeng Zhao, founder of Binance.
What is the future focus of YZi Labs?
YZi Labs will continue to invest in Web3 infrastructure while expanding its focus to include AI and biotechnology. The firm also plans to launch in-person incubation programs to support startups working at the intersection of these technologies.
How does YZi Labs choose its investments?
The firm looks for visionary founders and innovative projects that have the potential to generate long-term societal impact. Investments are focused on areas like decentralized infrastructure, secure token distribution, and cutting-edge applications of AI and biotech. 👉 Learn more about advanced investment methods