Binance Labs, the venture capital and incubation arm of Binance, witnessed a year full of crucial developments in 2023. Focused on chain-agnostic and stage-agnostic investments and dedicated to enhancing early-stage projects, Binance Labs plays a significant role in shaping the future of the Web3 industry.
Experiencing dramatic growth since 2018, Binance Labs' portfolio now includes 250 projects across 25 countries, showcasing an impressive 14X return on investments. The portfolio features industry trailblazers Optimism, LayerZero, Celestia, Aptos, Mysten Labs, and Trust Wallet. About 50 portfolio companies have been incubated by Binance Labs, including Dune Analytics, Injective Labs, Polygon, and SafePal.
Through a time of market downturn in 2023, Binance Labs displayed determination by investing in over 25 transformational solutions in the Web3 sphere. Credited by Messari as the most active VC in Q2 and Q3 of 2023, the company specifically ventured into the DeFi and Web3 Gaming sectors. Its investment portfolio in 2023 included infrastructure and tooling powered by Zero-Knowledge Proof techniques, Web3 Gaming for large-scale adoption, and advanced DeFi solutions.
Key investments undertaken by Binance Labs include: $10M in Neutron, an investment in AltLayer, a financial venture in Radiant Capital, $5M in Curve DAO Token (CRV), $10M in Helio Protocol, $15M in Xterio, seed funding for GOMBLE, investment in Sleepless AI, an early-stage investment in Delphinus Lab, and investment in Arkham Token (ARKM).
Binance Labs rolled out multiple incubation programs in 2023, including its Binance Labs Incubation Program focused on long-term growth of Web3 startups, and the Most Valuable Builder (MVB) Accelerator Program supporting the BNB Chain ecosystem. During 2023, over 2,000 global startups applied to these programs.
Venturing further, MVB program’s 7th season included two tracks, with CMC Labs joining the partnership. With the goal of incubating 100 innovative ideas on BNB Chain, Binance Labs and CMC Labs plan to provide enhanced exposure to the participating projects.
