The global blockchain system Binance has raised $ 500 million for its new venture fund, which will invest in Web3. The fund was supported by DST Global and Breyer Capital, CNBC reports.
What happened
The venture capital division of the Binance Lab blockchain system is launching a venture fund to invest in Web3 projects. The fund has already raised $ 500 million from DST Global and Breyer Capital and several unnamed corporations.
And this despite the fall of the cryptocurrency: only bitcoin fell almost twice the record value of $ 69,000 in November last year. Binance Labs is convinced that lowering the startup rating and slowing down the market will not affect private markets in the early stages.
The fund will invest in pre-seed and seed rounds. Will invest in tokens and promotions of projects.