CZ’s New Chapter: Binance Labs Rebrands as YZi Labs to Tackle AI, Biotech, Web3

The venture capital arm of Binance, once known as Binance Labs, has undergone a significant transformation, rebranding as YZi Labs and setting its sights on a broader investment horizon. This move comes with a shift from a purely crypto-focused mandate to an ambitious strategy encompassing artificial intelligence (AI), biotechnology, and Web3 innovations.

It also marks a new chapter for Changpeng Zhao (CZ), the billionaire founder of Binance, following his departure from the exchange's leadership.

Rebranding and Realignment

YZi Labs’ decision to rebrand reflects its evolution as an independent entity, even as it inherits a legacy of crypto innovation from Binance.

“Rebranding to YZi Labs is more than a name change—it signifies an expanded vision as we broaden our horizons to include transformative sectors like AI and biotech,” CZ explained in an announcement on Friday.

The rebrand also formalizes the separation of YZi Labs from Binance, underscoring its independence after years of operating as the exchange’s investment arm.

At the heart of YZi Labs’ new identity is a commitment to backing projects with long-term societal impact. “Our mission remains unchanged: to empower visionary founders who are building for the long term with strong execution,” added Ella Zhang, who returns as the head of YZi Labs.

Zhang’s leadership is expected to anchor the firm’s new direction, leveraging her extensive experience in early-stage venture investments.

The Return of Ella Zhang

Zhang’s return marks a homecoming. As the founding head of Binance Labs in 2018, she spearheaded the firm’s first three incubation programs, supporting notable projects like Polygon, CertiK, and Dune Analytics.

After stepping away in 2020 to explore entrepreneurial ventures, Zhang’s return signals a renewed focus on founder-driven investment. “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,” she shared.

Under her leadership, YZi Labs plans to reintroduce its incubation program with a 12-week in-person residency, designed to foster collaboration and innovation among startups.

Broader Vision

YZi Labs’ new investment focus spans all stages of company development, from seed funding to growth and late-stage investments. While its roots remain in Web3, the firm’s expansion into AI and biotech reflects an understanding of how these technologies intersect and drive transformative change.

This diversification comes as CZ himself takes a more hands-on role in investment activities. He founded Binance in 2017, rapidly building it into the largest cryptocurrency exchange globally. However, CZ's career faced significant legal challenges when the U.S. Department of Justice charged Binance with compliance failures linked to illicit activity. These charges led to CZ stepping down as CEO in 2023 and serving a four-month prison sentence. Despite these setbacks, CZ has emerged with renewed focus, leveraging his vast wealth and influence to prioritize investments with societal impact.

Now, CZ will serve on YZi Labs’ investment committee and offer direct mentorship to founders, the announcement said.

Looking Ahead

With over $10 billion in assets under management, YZi Labs inherits a formidable portfolio of projects spanning 250 companies across 25 countries. The firm’s broadened focus positions it as a significant player in the venture capital space, poised to compete with the likes of a16z and Polychain Capital.

Yet, this transition is about more than expanding financial horizons. For CZ, who remains one of the wealthiest figures in crypto despite stepping down as Binance CEO, YZi Labs represents a chance to redefine his legacy. Following legal challenges and a brief prison sentence, he has committed to prioritizing “impact over returns,” aligning his investments with projects that can shape the future in meaningful ways.

As it embarks on this new chapter, YZi Labs has an opportunity to redefine what a venture firm rooted in crypto can achieve, setting the stage for a more expansive and impactful role in the global technology ecosystem.