Three Asian tech companies have recently appointed female CEOs to spearhead their operations, including Binance Labs, the investment unit of crypto exchange giant Binance; SCB10X, the venture capital arm of Thai conglomerate SCBX; and Singapore-based fintech company Robocash.
Binance co-founder Yi He is new head of its VC arm
Binance, the world’s largest cryptocurrency exchange, has appointed its co-founder Yi He as the new head of its venture capital arm and incubator, Binance Labs.
“As part of the founding team, Yi has been actively involved in Labs since its inception and has played a pivotal role in identifying early-stage projects and founders with the vision and drive to disrupt those global institutions that no longer serve society effectively,” said Binance CEO Changpeng Zhao in a statement.
“Part of the journey of seeing Binance grow, especially through tough market conditions, has been the ability to identify those founders that have the skills and embody the values needed to thrive in an environment where resources are more limited,” said Yi.
Binance said Binance Labs is the largest crypto VC investor in the industry by asset under management at $7.5 billion. The firm has gained a multiple on invested capital of 21x.
Yi will lead global strategy and the day-to-day operations at Binance Labs. Part of her focus will be on significantly supporting infrastructure projects and improving utility in innovative crypto and blockchain projects.
Binance Labs recently closed a $500 million investment fund which includes participation from global institutional investors such as DST Global Partners and Breyer Capital.
Thailand’s SCBX’s VC arm SCB10X hires new CEO
SCB10X, the venture arm of Thai financial services conglomerate SCBX, has promoted Mukaya (Tai) Panich as its new CEO, succeeding former CEO Arak Sutivong.
Panich will continue to hold the position of chief venture and investment officer, along with the newly appointed CEO position.
SCB10X also announced the promotion of Pailin (Pie) Vichakul, its partner and head of strategic planning, to chief operating officer.
Panich will lead SCB 10X’s initiatives to invest in and build the ecosystem of disruptive technologies in Southeast Asia, and continue growing the SCB10X team across its venture building and venture capital business, the company said in a statement. It added that the appointment “is a historic moment for women in finance”.
Singapore fintech Robocash appoints new CEO
Singapore-based P2P lending company Robocash has appointed its COO Natalya Ischenko as the company’s CEO, replacing the company’s founder Sergey Sedov, who will continue as chairman of the board.
Tech in Asia first reported the news. Robocash’s website has also reflected the change.
As CEO, Ischenko will help Robocash refine its business and financial model as well as develop best practices for operations and corporate governance, the report said.
At the same time, it was also reported that Ivan Adamovich, Robocash’s deputy CFO, has been promoted to be CFO.
The company said last month that it issued $657.8 million worth of loans in H1 2022, up 50% compared to the same period last year. The group’s revenue reached $214.9 million, increasing 53.6% year-on-year. Net profit stood at $13.9 million.
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