Binance Labs, the venture capital division of prominent cryptocurrencycurrency exchange Binance, has solidified its status as the most engaged investor in Launchpool initiatives, as per a recent analysis by Root Data Labs. According to the data analytics platform, Binance Labs has been involved in an impressive 21 out of 30 Launchpool initiatives since November 2021, resulting in a total of 190 investment portfolios.
Similar to other prominent venture capital firms such as OKX Ventures, Coinbase Ventures, and Polychain Capital, each of which has invested in approximately five startups through Launchpool, Binance Labs has an impressive strike rate of 11.05%.
Although the majority of the 288 investors had a hit rate below 2%, certain prominent participants such as Gemini’s Frontier Fund, Draper Dragon, and individual investor Kin Warwick, the founder of Synthetix, have managed to achieve hit rates surpassing 5%. This demonstrates their exceptional skill in identifying potential successful projects in the highly competitive Launchpool arena.
The exceptional outcome underscores Binance Labs’ systematic strategy in identifying groundbreaking cryptocurrencycurrency enterprises and capitalizing on early financing opportunities.
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