Foreign media: Binance Labs has repaid part of the funds to external investors this summer

2023-11-22 17:01:54

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According to ChainCatcher news, The Block reported that Binance's venture capital arm, Binance Labs, raised $500 million for a Web3 fund called "Binance Labs Fund II" in 2022, marking its first external capital. However, sources revealed that a significant portion of the donations from external supporters or LPs has been repaid over the summer; nearly half of the total $150 million invested by LPs in Binance Labs has been repaid; these funds have not yet been deployed into startup investments.

A Binance spokesperson declined to comment on this. The specific reasons for the venture capital arm repaying its LPs remain unclear.

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