Web3 Fund Led by Ex-Binance Labs Executive Nicole Zhang Raises $20 Million

Lingfeng Innovation Fund (LIF), a Web3 venture capital fund with former Binance Labs Managing Director Nicole Zhang as a founding partner, has closed a $20 million fundraising round with an ultimate goal of $30 million. The funds raised were used to invest in crypto startups.

LIF is said to focus on early-stage projects, from pre-seed to Series A stages, and the fund has made 10 investments so far, including ApolloX, ZetaChain and Ultiverse.