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Variant

variant.fund

Variant is an early-stage crypto fund investing at the seed stage. Since 2020, they have invested in projects like Uniswap, Phantom, World, Morpho, Flashbots, Farcaster, Blockaid, and Blackbird. They lead pre-seed and seed rounds and participate in later stage rounds that are core to their thesis.

Check Size

Not specified

Stages

Pre Seed, Seed

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Investment Thesis

Variant believes crypto can enable billions of internet users to become owners—of their money, identity, and the products and networks they use every day. They operate as a small, focused team that works side-by-side with founders on early-stage strategy as thought partners. The firm is known for being hands-on, with founders describing them as their ‘first call,’ ‘consistent supporter,’ and ‘day to day’ partners who ‘care deeply.’

What Sets Them Apart

  • Hands-on partnership approach - founders describe them as 'day to day' partners
  • Deep crypto-native expertise combined with institutional credibility and discipline
  • Thesis-driven investment approach across both venture and liquid digital assets
  • Extensive thought leadership through prolific research and writing on crypto trends
  • Strong policy and legal expertise with dedicated Chief Legal Officer and Policy Lead
  • Combined venture and liquid investment strategy that reinforces each other
  • Founder Fellowship program providing actionable content for builders

Portfolio Highlights

Uniswap

Defi

Phantom

Infra

World

Consumer

Morpho

Defi

Flashbots

Infra

Farcaster

Consumer

Blockaid

Infra

Blackbird

Consumer

+ 63 more companies in their portfolio

Investment Team

17 Partners at Variant

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