YZi Labs, formerly known as Binance Labs and affiliated with Binance co-founder Changpeng Zhao (CZ), is reportedly planning to establish a $10 billion investment fund aimed at external investors, according to Financial Times (FT).
Currently, the firm focuses on long-term strategic investments in crypto startups, artificial intelligence, biotechnology, and crypto reserves. CEO Ella Zhang explained that while interest from outside investors is strong, the company wants to build more expertise in these areas before officially opening the fund.
“There are always many external investors interested in partnering with us. Over time, we will consider converting into a fund open to outsiders. Right now, we are still preparing internally,” Zhang said.
The firm is assembling a specialized team for AI and biotech projects. Once ready, the fund will be accessible to external investors, a step Zhang described as “a huge responsibility.” She also noted the complexity of managing $10 billion—or potentially more—in cryptocurrency assets.
“CZ told me: ‘Your task is to deploy the capital.’ It’s challenging to find enough assets that meet our strict criteria,” Zhang added.
YZi Labs previously raised approximately $300 million in external funds in 2022, later returning part of it as existing funds were already substantial. The company currently operates with a 12-person investment team, taking cautious and long-term positions.
Additionally, YZi Labs has partnered with 10X Capital to create a joint entity focused on investments in BNB, further expanding its footprint in the crypto ecosystem. Should the company choose to bring in U.S.-based investors, it is expected to attract attention from regulators, according to FT.
