Binance Labs, the venture capital and incubation arm of Binance, announced Wednesday the closing of a new $500 million investment fund with support from leading global institutional investors such as DST Global Partners, and Breyer Capital. Other major private equity funds, family offices, and corporations also subscribed to the fund as limited partners. The new fund will invest in projects that can extend the use cases of cryptocurrencies and drive the adoption of Web3 and blockchain technologies.