Binance co-founder Changpeng Zhao is reportedly weighing plans to open YZi Labs' $10 billion portfolio to external investors, potentially transforming it into an investment fund. According to the Financial Times, Ella Zhang, head of YZi Labs, revealed that the firm "will eventually consider turning it into an external-facing fund", though it is currently focused on building expertise in artificial intelligence and biotechnology before making the shift. Zhang emphasized that opening to outside capital entails "a huge responsibility" and that the move is not immediate.
YZi Labs, launched in early 2025 as a family office for Zhao and co-founder Yi He, manages Zhao's personal fortune and funds from early Binance insiders. It was formerly Binance Labs and now invests primarily in early-stage projects across Web3, crypto, AI, robotics, and biotech, with digital assets comprising about 70% of its investments. The portfolio includes over 230 companies, such as Aptos Labs (APT), Polygon (MATIC), 1inch Network (1INCH), Sky Mavis (AXS), LayerZero (ZRO), and Mysten Labs (SUI). The firm has a 12-person team and has received pitches from more than 50 projects seeking funding.
Notably, the Securities and Exchange Commission (SEC) recently requested a private demo of YZi Labs' portfolio companies, signaling potential regulatory openness under the Trump administration. Zhao, who served a four-month prison sentence in 2023 for money laundering charges and is seeking a pardon, remains Binance's largest shareholder. The consideration of external investors comes amid rising demand for crypto-native funds, similar to Galaxy Digital's recent $175 million raise.
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