By
Steve Muchoki
May 10th, 2024
By unifying Asians and Pacific Islanders, Gold House seeks to also enable more authentic multicultural representation.
Binance Labs stated that it recently participated in the $30 million fundraising of Gold House Ventures, the debut fund of Gold House.
Gold House is the premier consortium of Asian and Pacific Islander (API) leaders bound together by a common goal. The institution aims for the attainment of socioeconomic equity, and is facilitated by the convening, promoting, and investing in API companies and creatives.
The purpose of Gold House’s newly launched fund is multifold. For starters, the fund directly invests in founders of API descent and gathers capital via its API investment network. The network includes several top angels and preeminent venture capital firms. In addition, Gold House Ventures also enhances portfolio companies through a slew of industry-oriented incubation programs. Furthermore, the premier fund achieves this alongside the region’s preeminent API accelerator called Gold Rush.
Gold House Ventures provides support through extensive marketing and talent recruitment and reinvests proceeds. The fund contributes the totality of its management fee and profits back to the nonprofit Gold House. With this financing method, the API collective furthers its crucial efforts across the region and beyond. By unifying Asians and Pacific Islanders, Gold House seeks to also enable more authentic multicultural representation.
Key Stakeholders Comment on Binance Labs-Gold House Ventures Scheme
Ken Li, Investment Director at Binance Labs, offered his take on Binance’s involvement with the Gold House initiatives. According to him:
“Binance has always sought to partner with talented founders and builders at the earliest stages via both Incubation Program as well as venture investing practices. We are excited to be a major investor in Gold House Ventures, especially as the team increasingly looks at potential opportunities in Web 3.0.”
Furthermore, another key stakeholder, Bing Chen, President & Co-Founder of Gold House and General Partner of Gold House Ventures, also weighed in. Chen pointed out Gold House’s mission statement of creation, empowerment and enlightenment, “because what we see on screen alters what we believe”. Furthermore, after establishing that Gold House is very big on reshaping public opinion, Chen also added:
“Now, it’s time to ensure that what we believe is who we can become — not just for the API community but for all communities through equitable hiring, multicultural consumer engagement, and collective economic success.”
Gold House Ventures
Although Gold House Ventures invests across industries, the fund primarily focuses on startups in their early stages. However, the API fund does not shy away from opportunities in growth-stage financing rounds. Gold House Ventures executes its investment practices with world-class investors who are founding members as well as supporters of the collective. Some of these investing partners are Accel, Alley Corp, Bain Capital, Basis Set, Bling Capital, CircleUp, Coatue, Decibel, Eniac, and Floodgate. In addition, others include General Catalyst, GGV, Goodwater, Graph Ventures, Imaginary Ventures, Juxtapose, Lightspeed, Maveron, Mayfield, NEA, Northzone, Tribe, and Trinity.
Gold House investing partners also comprise a growing list of top early-stage funds across industries.