YZi Labs, led by Binance’s co-founder, may soon allow outside investors to join its $10 billion fund.
- YZi Labs was once Binance’s venture capital arm
- It’s now a private fund managing CZ’s and Yi He’s wealth
- The company may turn into a public investment fund in the future
YZi Labs May Change Its Model
Changpeng “CZ” Zhao, co-founder of Binance, created YZi Labs to manage his personal investments. Now, the firm may become open to investors outside his inner circle.
Ella Zhang, who leads YZi Labs, said the firm might convert to an external-facing investment fund. This means people outside Zhao’s circle could invest in it in the future.
Why This Matters
YZi Labs controls around $10 billion. Until now, it has acted as a family office, investing only money from Zhao and his partner Yi He. Changing to a public fund could bring more money and attention to the projects it backs.
Zhang also said that while the team has experience in Web3, it’s still learning about AI and biotech. They want to build more expertise in these areas before allowing external investors.
What Is YZi Labs?
YZi Labs began as Binance Labs, the venture arm of Binance. It was rebranded when CZ stepped down as Binance CEO. He left the company after pleading guilty to failing to follow customer ID rules. He served a four-month prison sentence.
After stepping away from Binance, CZ began focusing more on YZi Labs. The firm has since managed large investments and helped fund tech startups.
What Happens Next?
For now, YZi Labs will stay a private family office. But Zhang said they are open to expanding once their team gains more experience. This could lead to more growth by opening the firm to external investors.
It is still unclear when the firm might change its model. YZi Labs did not give any new comments.
Source: coindesk.com
