Binance Labs (now YZi Labs) is transitioning from an exchange-affiliated VC arm into an independently operated family office-style platform led directly by Binance co-founder He Yi, who simultaneously runs the exchange's core business while overseeing a multibillion-dollar fund—giving founders unusually direct access to a top-tier exchange operator rather than a traditional career investor. The fund operates as a vertically integrated "build-incubate-distribute" loop where approximately 50 of its portfolio companies come directly from its own incubation programs, with founders getting direct access to Binance's infrastructure, BNB Chain initiatives, and listing pathways that few other funds can replicate.