{"id":48112,"date":"2022-06-01T14:08:24","date_gmt":"2022-06-01T12:08:24","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=48112"},"modified":"2022-06-01T14:08:24","modified_gmt":"2022-06-01T12:08:24","slug":"binance-labs-drum-up-500m-to-boost-web-3-adoption","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/binance-labs-drum-up-500m-to-boost-web-3-adoption\/","title":{"rendered":"Binance Labs Drum Up $500M To Boost Web 3 Adoption"},"content":{"rendered":"
Binance Labs, the venture capital arm of cryptocurrency behemoth Binance, raised $500 million<\/strong> in partnership with global institutional investors DST Global Partners and Breyer Capital to invest in companies building \u201cWeb3.\u201d<\/strong><\/p>\n This comes on heels after Venture capital giant Andreessen Horowitz (a16z) announced<\/a> last week, the largest-ever crypto venture fund of $4.5 billion<\/strong>. According to reports, a16z has reserved $1.5 billion<\/strong> for seed investments in Web3 startups. While discussing the mammoth fund, Chris Dixon, General partner at a16z exclaimed “We think we are now entering the golden era of Web3”.<\/strong><\/span><\/p>\n <\/p>\n In the latest development, Binance Labs’, closed<\/a> a colossal amount of $500 million from leading venture capital firms DST Global<\/strong>, a venture capital and private equity firm that primarily invests in late-stage internet companies and California based independent VC, Breyer Capital. <\/strong>Additionally, the fundraise also attracted support from other major private equity funds, family offices, and corporations as limited partners.<\/p>\nThe Capital Will Accelerate Mass Adoption Of Crypto<\/h2>\n