Zhao Changpeng (CZ)'s $10 billion investment firm YZi Labs is weighing plans to open the fund to external capital and investors.
YZi Labs manages Zhao Changpeng's personal wealth as well as funds from a few early insiders of Binance, including co-founder He Yi. The fund accepted about $300 million in external funding in 2022 but later returned some of the funds, citing that the scale of managed capital was too large.
"There are always many external investors interested," fund head Ella Zhang told the Financial Times. "We will eventually consider transforming it into an externally facing fund. We just think the timing is not yet right."
The portfolio of YZi Labs includes well-known cryptocurrency and Web3 projects such as Aptos Labs, Polygon, 1inch Network, Sky Mavis, as well as infrastructure and security companies like LayerZero, Mysten Labs, and CertiK. According to Dealroom data, there are over 230 companies in its portfolio.
Zhang told the Financial Times that the U.S. Securities and Exchange Commission (SEC) recently requested private presentations for companies supported by YZi Labs, after its chairman missed the fund's presentation day at the New York Stock Exchange, indicating a more favorable stance towards cryptocurrency from U.S. regulators under the Trump administration.
"Paul Atkins and other commissioners are quite open-minded," she said. Atkins has served as SEC chairman since April 2025.
Zhao Changpeng resigned from Binance after pleading guilty to U.S. criminal charges for failing to implement anti-money laundering (AML) controls last year.
He served four months in prison and is now seeking a pardon from U.S. President Donald Trump. Despite stepping down, he remains the largest shareholder of Binance.
Cointelegraph has reached out to YZi Labs for comment but has not received a response as of publication.
As YZi Labs considers external investors, the demand for cryptocurrency-native investment funds is rising. In June, Galaxy Digital raised $175 million for its first externally supported venture fund, exceeding its initial target of $150 million.
In July, Bitcoin analyst Willy Woo revealed that he had sold most of his Bitcoin, claiming that investing in Bitcoin infrastructure could yield higher returns. Woo stated that early Bitcoin startups offer potential returns of 100-1000 times.
Related: JPMorgan CEO: The Federal Reserve will not cut rates before inflation declines, stablecoins pose no threat to banks
Original: “Zhao Changpeng (CZ)'s $10 billion investment firm YZi Labs considers opening to external investors”
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