Yzi Labs, the family office founded by the co-founder of Binance, Changpeng “CZ” Zhao, could open up to external investors, the Financial Times reported on Tuesday.
The investment company of $ 10 billion, which has been renamed from Binance Labs, is open to the possibility of converting into investment funds, said Yzi Labs chief Ella Zhang, in an interview, according to the report.
“There are always many interested external investors and we will possibly consider transforming it into an external oriented fund,” said Zhang.
Although Yzi naturally has a considerable level in web3 investments, it is “even earlier” in the fields of artificial intelligence (AI) And biotechnology, said Zhang.
“We train our team, when we have this expertise … We will be open to external investors,” she said.
Yzi Labs was renamed from Binance’s venture capital branch at the Zhao family office shortly after his prison release following a four-month prison sentence for having omitted to set up an adequate program of your client in Binance.
As part of his guilty plea, he resigned as CEO of Binance and later turned his attention to Yzi Labs, who manages the money from Zhao and his co-founder of Binance Yi He, also his longtime partner.
Family offices are not open to external investors because they manage the richness of a single family, so do not collect funds from external sources.
Yzi Labs did not respond to the request for comments from Coindesk.
