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Binance Labs portfolio: 92 companies on NAUT, now YZi Labs

By NAUT Research · · 13 min read

92 Binance Labs portfolio companies tracked on NAUT, from April 2018 to September 2026. Logos: Sui, Mythical Games, Canton Network, Chiliz, Mask Network, Sign, Sahara AI, Terra Luna Classic, MobileCoin, Stakestone.

NAUT tracks 92 companies in the Binance Labs portfolio, across 107 funding rounds dated between April 2018 and September 2026. The 75 rounds with a disclosed size add up to $1.20B, the median one is $5.0M, and DeFi is the largest sector group with 22 companies.

Data note. Counted on 27 October 2026 from NAUT's own database: the company rows tied to the investment rows where NAUT records this fund as a backer. The fund sits on NAUT under 2 live rows after its rename, so this page counts the union of both. Binance Labs holds 105 backer rows, including every round before 2026. YZi Labs holds 3 rows, all 2026 deals, with no company in common with the first row. A third row exists on NAUT, archived and merged into the first. The rows stay as they are here, and nothing was written to the database for this page.

Those 2 rows hold 108 investment rows between them. 1 of the 108 repeats another: Sahara AI's $37.0M round of August 2024 is stored twice, from 2 trackers, 1 day apart, with the same amount. This page counts that round once, so 107 rounds and $1.20B rather than 108 rows and $1.24B. The Binance Labs row also stores a portfolio count of 106 in its own field, which matches neither row, so read this page as NAUT's coverage of the fund rather than the fund's full history.

56 of the 107 rounds carry an announcement date and NAUT holds a closing date for 45 more, so 101 rounds sit in a year and 6 in none. Every date on this page is the announcement date where NAUT holds one and the closing date otherwise: Mythical Games's $150.0M Series C closed in November 2021 and Canton Network's $135.0M Series E in June 2025, each stored with a closing date and no announcement date. Each company sits in exactly 1 sector group, the first sector tag NAUT holds for it, so the groups add up to 92; 7 companies carry no tag and get their own group. The largest rounds in the set and every round behind a repeat claim were checked against company announcements and named press reports. Written by NAUT Research.

What is in the Binance Labs portfolio on NAUT?

Sector Companies Rounds Median Total
DeFi 22 25 $5.0M $125.2M
Layer 1, 2 and 3 11 14 $12.0M $491.0M
Infrastructure 11 12 $6.2M $74.5M
AI 10 12 $4.3M $46.1M
Gaming 7 7 $4.1M $168.7M
Other sectors 10 14 $6.7M $61.9M
Money markets 4 5 $3.0M $13.8M
DEX 4 4 $4.3M $8.5M
Privacy 3 3 $42.0M $179.5M
RWA 3 3 $3.0M $5.9M
No sector tag 7 8 $5.3M $27.0M

DeFi, base layers and infrastructure hold 44 of the 92 companies between them. The 11 base layer companies carry the largest disclosed total at $491.0M, and the 3 privacy companies the highest median round at $42.0M, against $5.0M in DeFi. These Binance Labs investments run across 8 years, so the sector mix reads as the fund's history rather than its position today.

Why is Binance Labs now called YZi Labs?

The fund announced its new name in January 2025, moving away from the exchange's brand to operate as an independent investment firm. YZi Labs' own announcement puts the reason as "it is fitting to step away from the Binance brand name as it expands its investment focus".

On NAUT the rename landed as a second row rather than a new name on the old one, so the fund's history and its newest deals sit in different places. The YZi Labs portfolio on NAUT is the newer and smaller of the 2 rows. The 105 rounds under the Binance Labs row run from April 2018 to March 2026. The 3 rounds under the YZi Labs row are all from 2026: Nxos, a stablecoin neobank for cross-border trade, at $500,000 in August 2026, 4DLabs in September 2026, and XStable in September 2026, neither of those 2 with a disclosed size. Nxos came through the fourth season of the firm's EASY Residency programme, which put $500,000 into each of 24 companies. 4DLabs came through an earlier season of the same programme, the second, with no round size disclosed. A search for the fund by its old name on naut.so finds the first row and a search by the new name finds the second, so a BD list built from either row alone misses part of the portfolio.

Binance Labs portfolio companies by sector

Every company below links to its NAUT page, which lists its team, its rounds and the other funds on its cap table. Disclosed totals add every round NAUT records for that company in this set, so a company backed twice shows the sum of both.

DeFi (22 companies)

The largest group in the set, and the one this fund has backed longest.

Company Rounds Disclosed Latest
2 $22.0M Funding Round, Nov 2024
1 $18.0M Seed Round, Mar 2022
1 $10.0M Private Round, Jan 2026
1 $10.0M Strategic Round, Nov 2024
1 $10.0M Private Round, Aug 2023
1 $10.0M Strategic Round, Feb 2023
1 $9.5M Strategic Round, Jun 2025
1 $9.0M Funding Round, Jun 2023
2 $8.2M Strategic Round, Oct 2025
1 $5.0M Funding Round, Aug 2023
1 $3.5M Seed Round, May 2024
1 $2.5M Strategic Round, Jun 2024
1 $2.0M Private Round, Sep 2019
2 $2.0M Private Round, Oct 2024
1 $2.0M Funding Round, Feb 2021
1 $1.5M Seed Round, Mar 2021
1 - Private Funding Round, Feb 2024
1 - No date stored
1 - Strategic Round, Feb 2024
1 - Strategic Round, Jan 2022
1 - Incubation Round, Nov 2021
1 - Private Round, Aug 2024

Layer 1, 2 and 3 (11 companies)

Base layers and rollups, home to the largest cheque on this page.

Company Rounds Disclosed Latest
1 $300.0M Series B, Sep 2022
1 $65.0M Private Round, Jun 2018
1 $37.0M Strategic Round, Aug 2024
1 $32.0M Funding Round, Aug 2018
1 $15.0M Seed Round, Sep 2024
2 $12.0M Seed Round, Aug 2024
2 $10.0M Private Funding Round, Oct 2024
2 $8.0M Funding Round, Apr 2024
1 $6.0M Strategic Round, Mar 2021
1 $6.0M Seed Round, Aug 2024
1 - Strategic Round, Oct 2024

Infrastructure (11 companies)

Proving systems, data, account layers and developer plumbing.

Company Rounds Disclosed Latest
2 $41.5M Strategic Round, Oct 2025
1 $7.5M Seed Round, Nov 2024
1 $7.0M No date stored
1 $6.3M Series A, Sep 2021
1 $6.0M Strategic Round, May 2022
1 $2.0M Strategic Round, Mar 2021
1 $2.0M Strategic Round, Oct 2024
1 $1.5M Seed Round, Jan 2021
1 $0.7M Seed Round, Mar 2021
1 - Strategic Round, Feb 2024
1 - Strategic Round, May 2024

AI (10 companies)

Agent, data and compute teams, with a $4.3M median round.

Company Rounds Disclosed Latest
1 $10.0M Pre-Series A, May 2022
2 $9.5M Private Round, May 2024
1 $6.0M Seed and Private Rounds, Oct 2021
2 $5.0M Seed Round, Mar 2024
1 $4.0M Seed Round, Jul 2023
1 $3.7M Funding Round, Jul 2025
1 $3.5M Seed Round, Aug 2019
1 $2.5M Seed Round, Jun 2023
1 $1.9M Private Round, Jun 2019
1 - Private Round, Aug 2024

Gaming (7 companies)

Games, game platforms and the consumer apps NAUT tags here first.

Company Rounds Disclosed Latest
1 $150.0M Series C Round, Nov 2021
1 $6.0M Seed Round, Sep 2022
1 $4.8M Private Round, Dec 2021
1 $3.4M Seed Round, Oct 2024
1 $3.0M Seed Round, Dec 2021
1 $1.5M Strategic Round, Feb 2022
1 - Strategic Round, Jul 2024

Other sectors (10 companies)

Payments, stablecoins, prediction markets, social, security, media and tooling, 1 to 2 companies each.

Company Rounds Disclosed Latest
1 $30.0M Seed Round, Apr 2018
2 $13.4M Seed Round, Aug 2024
1 $8.5M Seed Round, Sep 2022
2 $5.0M Seed Round, Dec 2025
2 $5.0M Private Round, Aug 2025
1 - Incubation Round, Mar 2025
2 - No date stored
1 - Funding Round, Mar 2024
1 - Private Round, Aug 2024
1 - Strategic Round, Aug 2025

Money markets (4 companies)

Lending and yield venues.

Company Rounds Disclosed Latest
1 $10.0M Funding Round, Jul 2023
1 $3.0M Pre-Seed Round, Dec 2024
1 $0.8M Private Round, Jan 2025
2 - Mainnet Round, Jul 2024

DEX (4 companies)

Onchain venues and perpetual exchanges.

Company Rounds Disclosed Latest
1 $7.0M Pre-Series A Round, May 2024
1 $1.5M Seed Round, Jul 2021
1 - Seed Round, Nov 2024
1 - Private Round, Aug 2023

Privacy (3 companies)

Privacy and permissioned networks, with the highest median round on this page.

Company Rounds Disclosed Latest
1 $135.0M Series E Funding Round, Jun 2025
1 $42.0M Funding Round, Jul 2022
1 $2.5M Seed Round, Aug 2023

RWA (3 companies)

Tokenised assets, art and treasury products.

Company Rounds Disclosed Latest
1 $4.5M Seed Round, Mar 2022
1 $1.4M No date stored
1 - Strategic Round, Sep 2024

No sector tag (7 companies)

The 7 companies NAUT holds no sector tag for, including the 3 deals filed under the YZi Labs row.

Company Rounds Disclosed Latest
1 $16.0M Series A, Apr 2022
1 $7.5M Seed Round, Jun 2022
1 $3.0M Strategic Round, Apr 2021
1 $0.5M Seed, Aug 2026
1 - Seed, Sep 2026
2 - Private Round, Mar 2026
1 - Seed, Sep 2026

How big is a round in this set?

The rounds run from $0.5M to $300.0M. The mean is $16.0M and the median is $5.0M, so the average sits above 3 times the typical cheque. 60 of the 75 rounds with a disclosed size are $10.0M or smaller and 37 are $5.0M or smaller, which is the size of company this fund has backed most often.

Disclosed total per company, the 10 largest in the set
  1. Sui$300.0M
  2. Mythical Games$150.0M
  3. Canton Network$135.0M
  4. Chiliz$65.0M
  5. Mask Network$42.0M
  6. Sign$41.5M
  7. Sahara AI$37.0M
  8. Terra Luna Classic$32.0M
  9. MobileCoin$30.0M
  10. Stakestone$22.0M

The chart adds every round per company in this set. 32 rounds sit in no bar, because they disclose no amount. Sui is the largest single cheque here, a $300M Series B that closed in September 2022: the Defiant reported that "Mysten Labs, a web3 infrastructure company, has closed a $300m Series B funding round led by FTX Ventures". Mythical Games is second, and The Block reported in November 2021 that its $150.0M Series C was led by Andreessen Horowitz. The oldest dated round in the set is MobileCoin's $30.0M seed of April 2018. Terra Luna Classic follows that August: VentureBeat wrote then that Terra, a Singapore startup, had raised $32.0M to build a tradable stablecoin.

Which companies did this fund back more than once?

15 of the 92 companies appear in 2 rounds each, and 77 appear in 1. Counting the stored rows instead would give 16, because the duplicate Sahara AI row reads as a second round. No company in this set appears in 3 or more. Lombard's pair holds up against public reporting: a July 2024 seed round led by Polychain Capital, then a strategic round in October 2024 that press reports put this fund in. The other 14 pairs rest on the tracker rows NAUT ingested and were not checked one by one here.

Company Rounds Disclosed Round types
2 $41.5M Strategic Round, Funding Round
2 $22.0M Funding Round, Private Round with
2 $13.4M Seed Round, Seed Round
2 $12.0M Seed Round, Strategic Round with
2 $10.0M Funding Round, Private Funding Round
2 $9.5M Seed Round, Private Round
2 $8.2M Strategic Round, Funding Round
2 $8.0M Funding Round, 2nd Strategic Round
2 $5.0M Incubation Round, Seed Round
2 $5.0M Private Round, Seed Round
2 $5.0M Seed Round, Seed Round
2 $2.0M Funding Round, Private Round with
2 - Private Round, Incubation Round with
2 - Strategic Round, Private Round with YZi (Binance) Labs
2 - Private Round with , Mainnet Round

15 of the 107 rounds name the fund in the round label itself, as a private, strategic or incubation round with Binance Labs or YZi Labs. Those are the rows where the fund's cheque is the reason the round exists, which makes them the warmest names on this page for anyone asking the firm for an introduction.

Who invests alongside Binance Labs?

NAUT records 245 other firms as backers somewhere in the 105 rounds under the main row, and 6 of them appear in 5 or more. Polychain Capital is the most frequent at 8 rounds, ahead of Animoca Brands at 7.

Firm Rounds Companies
8 8
7 7
6 6
6 6
5 5
5 5
4 4
4 4
4 4
4 3
4 4
4 4
Rounds shared with the Binance Labs row, the 12 firms that appear most often
  1. Polychain Capital8
  2. Animoca Brands7
  3. Big Brain Holdings6
  4. HashKey Group6
  5. Gate.io Labs5
  6. Nomad Capital5
  7. Coinbase Ventures4
  8. dao54
  9. Fenbushi Capital4
  10. HTX Ventures4
  11. IOSG Ventures4
  12. Lightspeed Venture Partners4

NAUT records this fund as the lead investor on none of these rounds. That proves little on its own, because the lead flag is set on a small share of backer rows across the database, so its absence reads as a gap in the data rather than a fact about the fund.

What the Binance Labs portfolio tells a BD team

  • The median round is $5.0M. 60 of the 75 rounds with a size are $10.0M or smaller, so a pitch built around the $1.20B headline aims at the wrong company size.
  • The portfolio sits under 2 rows. A list built from the old name misses Nxos, 4DLabs and XStable, the 3 deals NAUT files under the new row.
  • 15 teams took a second cheque. A company this fund backed twice has a warmer path to the firm than a first-time name, and its NAUT page names the people on both sides.
  • The co-investor list is a second rolodex. 245 firms share a round with the main row, and 6 share 5 or more, so an introduction through one of them reaches the same table.
  • 7 companies carry no sector tag. A sector filter never returns those rows, so work from the list above rather than a tag search.

Any crypto VC portfolio list ages from the day it is published, so this page carries the date it was counted and links the row behind every number.

How a BD team can work this list
  1. Pick the sector you sell intoDeFi holds 22 of the 92 companies, base layers 11 and infrastructure 11, so work 1 group top down rather than the whole list.
  2. Size the pitch to the median60 of the 75 rounds with a disclosed size are $10.0M or smaller, so price for a team that raised $5.0M rather than for the $300.0M outlier.
  3. Start with the 15 repeat namesA second cheque from the same fund, from Sign at $41.5M down to Lombard, means a relationship you can ask about.
  4. Go through a co-investorPolychain Capital shares 8 of these rounds and Animoca Brands 7, so a warm path through either reaches the same cap table.
  5. Find the person on the NAUT pageEvery company above links to its page, which lists its team and the contact routes NAUT has verified.

What this tells a founder raising

  • This fund writes early. 40 of the 107 rounds are seed or incubation rounds, and the smallest disclosed cheque in the set is $0.5M, so an early round is in scope.
  • The newest deals came through a programme. The 3 rounds under the new row are all 2026, and 2 of them came through EASY Residency, whose fourth season wrote $500,000 to each of 24 companies.
  • Look at who else was in the room. The 245 co-backers on this page are the firms that said yes next to this fund, which makes them the obvious second call after it.
  • Read the fund's page before you pitch. Its NAUT page lists the people NAUT holds against the row and every round it has joined, so you can name the deal closest to yours.
How a founder can use this page
  1. Match your round to the setThe median round here is $5.0M and 37 of the 75 disclosed rounds are $5.0M or smaller, so lead with a round that size rather than a growth ask.
  2. Find your nearest comparableOpen the sector table above, pick the company closest to what you build, then read its NAUT page for its round sizes and dates.
  3. Ask that company for the path inA portfolio founder's introduction beats a cold note, and each company page on NAUT names its team.
  4. Line up the co-investors tooPolychain Capital, Animoca Brands and Big Brain Holdings each share 6 or more of these rounds.

Who runs the fund on NAUT?

NAUT holds 12 people against the Binance Labs row. 2 of them carry an investment title: Alex Odagiu and Michael Siu are both stored as Investment Director, which makes them the 2 rows to read first if you want a deal contact. Yi He is stored against the row with the title Co-Founder, which NAUT holds for her at Binance rather than at this fund.

Every title above is the one NAUT stores, set when the row was created, so treat it as a starting point and open the person's page for the contact routes NAUT has verified. The second fund row holds no people of its own, so the 12 rows under the old name are the whole team NAUT has for the firm.

Binance Labs portfolio FAQ

How many companies are in the Binance Labs portfolio?

NAUT tracks 92 companies backed by Binance Labs and YZi Labs as of 27 October 2026, across 107 funding rounds dated between April 2018 and September 2026. The fund's own NAUT row stores a portfolio count of 106, and trackers outside NAUT put the number higher, so treat 92 as the part of the portfolio NAUT has verified.

What companies has Binance Labs invested in?

The largest disclosed rounds in NAUT's set went to Sui at $300.0M, Mythical Games at $150.0M, Canton Network at $135.0M, Chiliz at $65.0M and Mask Network at $42.0M. By count the portfolio leans on DeFi (22 companies), base layers and rollups (11), infrastructure (11), AI (10) and gaming (7).

Is YZi Labs the same as Binance Labs?

Yes. The fund renamed itself YZi Labs in January 2025 and now operates as an independent investment firm. NAUT holds it under 2 rows: Binance Labs with 105 rounds from April 2018 to March 2026, and YZi Labs with 3 rounds from 2026, Nxos, 4DLabs and XStable.

How much does Binance Labs invest in a round?

Across the 75 rounds in NAUT's set that disclosed a size, between April 2018 and September 2026, the median round was $5.0M and the mean $16.0M, with a range from $0.5M to $300.0M. Those are the sizes of the whole round rather than the fund's own cheque, which is rarely disclosed.

Which funds invest alongside Binance Labs?

NAUT records 245 other firms across the 105 rounds under the main Binance Labs row. The most frequent are Polychain Capital at 8 shared rounds, Animoca Brands at 7, then Big Brain Holdings and HashKey Group at 6 each.

Does Binance Labs still invest in 2026?

NAUT holds 5 rounds for the fund dated in 2026. 3 sit under the YZi Labs row: Nxos at $500,000 in August 2026 from EASY Residency Season 4, 4DLabs in September 2026 from Season 2 of the same programme, and XStable in September 2026, which the company announced outside the programme. The other 2 sit under the Binance Labs row: Genius in January 2026 and Derivio in March 2026. The 2 September deals disclose no round size.

Sources