Crypto Exchange Binance Appoints Co-Founder Yi He to Head Binance Labs

Job Appointments | August 10, 2022 By:

Crypto exchange platform Binance has appointed Co-Founder Yi He as the new head of Binance Labs, the venture capital (VC) arm and incubator of Binance.

With a multiple on invested capital (MOIC) of 21.0x, a performance metric that is unparalleled in the industry, Binance Labs is the largest crypto VC in the sector by assets under management (AUM). More than 200 portfolio projects make up the $7.5 billion in total assets managed by Binance Labs.

At Binance Labs, Yi will oversee both the daily operations and the company’s worldwide strategy. Her focus will include advancing the utility of cutting-edge blockchain and cryptocurrency projects as well as assisting infrastructure projects.

Under Yi’s direction, Binance Labs will place an even greater emphasis on investing in talented, ambitious founders who will help shape the future of the industry. Her ambition is to accelerate the future adoption of Web3 and blockchain technology by “creating the standard for the blockchain industry.”

Speaking on the appointment, Binance CEO CZ (Changpeng Zhao) said, “As part of the founding team, Yi has been actively involved in Labs since its inception and has played a pivotal role in identifying early-stage projects and founders with the vision and drive to disrupt those global institutions that no longer serve society effectively. This is the perfect moment for Yi to take on a larger role in Labs as this market presents an unparalleled opportunity to identify those projects with the tenacity to thrive in tough market conditions.”

“Part of the journey of seeing Binance grow, especially through tough market conditions, has been the ability to identify those founders that have the skills and embody the values needed to thrive in an environment where resources are more limited. As a leading player in the space, my goal is to help define the industry standard by identifying and supporting sustainable projects and building an ecosystem of quality blockchain solutions that empowers the entire industry,” said Yi.