The first fund of NoLimit, led by the former strategic director of Binance, has completed a fundraising of 50 million USD

ChainCatcher news, according to The Block, the venture capital fund CVP NoLimit Fund I, led by former Binance strategic officer Gin Chao, has announced the completion of a $50 million fundraising, which will focus on investing in crypto startups.

It is reported that NoLimit focuses on seed-stage deals and strategic rounds, with check sizes ranging from $250,000 to $3 million. Its current bets include Mysten Labs, Connext, Hogwarts Labs, Binance.US, and IQ Protocol. The company has invested in over 20 projects globally and expects to make another 20 investments in the next 12 months.

According to RootData, Gin Chao is the founding partner of NoLimit Holdings, and he is also a board member of Binance US and CoinMarketCap. From 2018 to 2022, he served as the strategic officer at Binance, having previously worked at the NBA and Dell. Gin Chao graduated from Carnegie Mellon University and New York University.