Binance Labs, the venture capital arm of leading cryptocurrency exchange Binance, has cemented its position as the most active investor in Launchpool projects, according to a recent report by Root Data Labs.
The data analytics platform revealed that Binance Labs has participated in a staggering 21 out of 30 Launchpool projects since November 2021, amassing 190 investment portfolios.
Comparable to other well-known venture capital firms like OKX Ventures, Coinbase Ventures, and Polychain Capital, which have each invested in roughly five Launchpool startups, Binance Labs has an astounding 11.05% strike rate.
This outstanding result highlights Binance Labs’ methodical approach to spotting innovative cryptocurrency businesses and seizing early funding chances.
While the average hit rate among the 288 investors did not exceed 2%, notable players like Gemini’s Frontier Fund, Draper Dragon, and individual investors like Synthetix founder Kin Warwick have achieved hit rates exceeding 5%, showcasing their ability to identify potential winners in the competitive Launchpool arena.
