The venture capital division of Binance, Binance Labs, has formally changed its name to YZi Labs, signifying its independence and broadening its investment emphasis beyond blockchain and cryptocurrency to encompass biotechnology and artificial intelligence (AI).
This development comes as Changpeng Zhao (CZ), the founder and former CEO of Binance continues to disassociate himself from day-to-day operations at Binance.
But according to the announcement on Thursday, CZ is still a key player in YZi Labs, where he actively participates in investments and offers startup founders direct mentoring and advice.
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Independent entity
Since the company has been using the Binance name to function independently for years, the decision to rebrand is viewed as a logical next step. As CZ is leaving Binance, YZi Labs is doing the same by becoming an independent company.
The renaming keeps YZi Labs’ roots in Web3 innovation while embracing its larger goal to explore investments in revolutionary industries like biotech and AI.
Even with his diminished responsibilities at Binance, CZ continues to have a significant impact at YZi Labs. His passion to form the next generation of innovators is demonstrated by his involvement in mentoring startup founders.
“Rebranding to YZi Labs is more than a name change—it’s about expanding our focus while staying dedicated to empowering founders with the tools and guidance they need to succeed,” CZ stated.
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Ella Zhang returns to lead YZi
Ella Zhang, who co-founded Binance Labs with CZ in 2018, has returned to serve as the CEO of YZi Labs. Zhang was instrumental in Binance Labs’ early success, supporting companies including Polygon, CertiK, and Dune Analytics.
In 2020, Ella took a break to focus on her business endeavours. Ella has returned to oversee YZi Labs, where she will use her extensive knowledge of investments and founder-focused viewpoint to guide the company through its next stage of expansion.
“I’m excited to rejoin YZi Labs at this pivotal moment and reconnect with our founders and community. While the rebranding marks the start of a new chapter, our mission remains unchanged: to empower visionary founders who are building for the long term with strong execution. By venturing into new horizons in AI and biotech, while staying rooted in our Web3 foundations, we aim to push the boundaries of innovation and create lasting value for society,” said Ella Zhang, Head of YZi Labs.
YZi Labs promised that the rebranding will not impact its current portfolio firms’ resources or programs. Along with improving its incubation program, the organisation will provide startup founders a 12-week in-person residency to encourage innovation and collaboration.