BNB

Binance Labs Invests in Five Exceptional Projects from Season 5 of its Incubation Program

by BSC News

June 20, 2023

chain

The chosen projects span across different sectors of Web3, including DeFi, infrastructure, tooling, and middleware.

Binance Labs Selects Best Performers

Binance Labs, the venture capital and incubation arm of Binance, has recently announced its investment in the top-performing projects from Season 5 of its renowned Incubation Program. 

With over 900 project applications received, only a select few, accounting for less than 2% of the total, were chosen to participate in the program. Throughout the season, participants benefited from a tailored curriculum that catered to their specific needs as founders, supplemented by exclusive resources from the ecosystem and engaging fireside chats with industry leaders.

Yibo Ling, Chief Business Officer at Binance, expressed the organization's commitment to empowering early-stage projects that have the potential to drive industry advancement. Ling stated, "Binance Labs remains dedicated to empowering scalable early-stage projects that contribute to the advancement of the industry. We look forward to seeing the positive impact of Season five’s incubated projects on the broader Web3 ecosystem."

The culmination of season 5 of the Incubation Program was the Build The Block event, where the Season 5 cohort had the opportunity to pitch their projects to industry leaders and investors. As a result, Binance Labs granted funding to five exceptional projects, including Bracket Lab, DappOS, Kryptoskatt, Mind Network, and zkPass. Find details about the projects in the official announcement here

Exciting news awaits as Binance Labs gears up for the upcoming launch of Season 6 of the Incubation Program. Forward-thinking founders of early-stage projects are encouraged to apply, as the application process will open on a rolling basis.

What is Binance Labs:

As the venture capital arm and accelerator of Binance, Binance Labs is on the continued lookout for the next big Web3 innovation. Since 2018, Binance Labs has invested in more than 200 projects from 25 countries. It has also incubated more than 50 projects that are native to Web3 through the Binance Labs Incubation Program, including Polygon, Perpetual Protocol, and Dune Analytics. As of August 2022, Binance Labs is the largest crypto VC in the industry by Asset Under Management (AuM) of $7.5 billion with a Multiple on Invested Capital (MOIC) of 21.0x.

Where to find Binance Labs:

Website | Twitter |