Binance Labs Leads in Launchpool Projects Amongst Top Investment Firms
Binance Labs Leads in Launchpool Projects Amongst Top Investment Firms
Binance Labs, the venture capital arm of the popular cryptocurrency exchange Binance, has been making waves in the investment world with its impressive performance in Launchpool projects. According to a recent report from Root Data Labs, Binance Labs has emerged as the VC with the largest number of Launchpool projects amongst top investment firms.
The report revealed that Binance Labs has invested in a total of 21 projects out of the 30 Launchpool projects since November 2021, with a hit rate of 11.05%. This puts Binance Labs ahead of other top investment firms like OKX Ventures, Coinbase Ventures, Dragonfly, Polychain Capital, and g scott russ, who have invested in fewer projects.
Interestingly, Binance Labs’ investment strategy seems to have shifted recently, with the firm only investing in two out of the eight projects that were launched. This change could be attributed to a previous controversy surrounding “nepotism coins” that involved Binance, indicating a move towards a more equitable investment approach.
The report also highlighted the performance of individual investors in the Launchpool projects, with notable figures like Synthetix founder Kin Warwick and EthHub co-founder Anthony Sassal achieving impressive hit rates of 8.77% and 8.57% respectively. On the other hand, only three of Andreessen Horowitz’s investment portfolios made it to the Binance list, suggesting a focus on different investment priorities.
In terms of recent Launchpool projects, Binance Labs is currently on its 53rd project with the upcoming launch of Renzo (EZ), a restaking liquidity protocol. This follows the successful launches of Omni Network (OMNI) and Saga (SAGA) as the 52nd and 51st projects respectively, solidifying Binance’s dominance in the Launchpool ecosystem.
With Binance Labs leading the way in Launchpool projects and attracting a diverse range of investors, the future looks bright for the cryptocurrency exchange and its venture capital arm.
