Binance founder “CZ” considers opening YZI labs to external investors: FT

Yzi Labs, a family office founded by Binance co-founder Changpeng “CZ” Zhao, could be opened to outside investors, Financial Times reported Tuesday.

The $10 billion investment company rebranded from Binance Labs is open to the possibility of converting it into investment funds, Yzi Labs’ head Ellachan said in an interview.

“There’s always a lot of outside investors interested, so we’ll look at eventually turning it into an external fund,” Zhang says.

YZI naturally has quite a lot of Nous in terms of Web3 investment, but in the field of artificial intelligence, it is “still too early” (AI) And Biotechnology, Zhang said.

“When we have that expertise, we form our team… we’re open to outside investors,” she said.

YZI Labs was rebranded to Zhao’s family office as being Binance’s venture capital arm, shortly after being released from prison after serving a four-month sentence for failing to establish a proper knowledge client program at Binance.

As part of his guilty plea, he resigned as Binance CEO, then turned more attention to Zhao and Binance co-founder Yi He, Yzi Labs, who manages the money of his longtime partner.

Family offices are not open to external investors as they manage the wealth of a single family, so do not raise funds from external sources.

YZI Labs did not respond to Coindesk’s request for comment.