Gulf Energy Development Public Company Limited (SET: GULF) would like to notify the Stock Exchange of Thailand that the Company, through Gulf International Investment (Hong Kong) Limited (Gulf HK), a wholly-owned subsidiary, made an investment in Binance Labs Investment Fund, a new venture capital fund issued by Binance Labs to invest in digital assets, digital infrastructure and blockchain technology, with emphasis on projects that can extend the use cases of cryptocurrencies and increase the adoption of Web3 including DeFi, NFTs, Metaverse and gaming. Gulf HK invested USD 10 million out of USD 500 million in the Fund.
Binance Labs is a venture capital of Binance that primarily invests in businesses that have the potential to drive the growth of the blockchain ecosystem. The investment in Binance Labs Investment Fund, therefore, provides GULF with opportunities to co-invest in several potential projects selected by the global industry leader fund manager as well as to participate in the Binance ecosystem, which has rapid growth prospects.
