Yi He, Binance’s co-founder and CMO, will be leading the company’s $7.5 million VC and Incubation arm. She is focused on investing in sustainable projects to accelerate widespread adoption of web3 technology.
Binance Crypto Exchange has named Yi He, co-founder and CMO, to head Binance Labs. This is the company’s venture capital arm.
She will be responsible for Binance Labs’ global strategy, day-to-day operations and strategic planning. Also, the company announced that it will seek out “capable, driven founders” to invest in Binance Labs.
Yi stated that he is a leader in the space and aims to set the industry standard through the identification and support of sustainable projects as well as building an ecosystem with quality blockchain solutions that empowers all industry players.
She said that to accelerate widespread adoption, we must focus our resources on projects that push the boundaries and create products that solve real-world problems.
Yi will continue to lead key business units at Binance including customer support and marketing.
Yi was part the Binance founding team in 2017 and has been the exchange’s CMO ever since. Prior to Binance, Yi was a vice president at Yixia Technology in China, where she managed branding strategy and marketing operations. She co-founded OKCoin in 2014, a digital asset exchange.
Yi was appointed two months after Bill Qian, former Binance Labs head, left. The Block also revealed that Qian had left for personal reasons. Yi’s appointment came just two months after Qian’s departure. After a more than two-year stint at Binance Labs, Nicole Zhang, the executive director, also left Binance Labs.
Binance Labs invested in over 200 portfolio projects, totaling $7.5 billion. To support startups that promote crypto adoption, the firm raised $500 million. Binance Labs was the first to raise outside capital for this fund, and DST Global Partners as well as Breyer Capital were its investors.