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VF
Variant Fund
New York, NYWebsite ↗
Variant Fund is an early-stage cryptocurrency and Web3 investment fund dedicated to fostering an internet where users are owners. The firm invests in decentralized protocols, infrastructure, and applications that expand user autonomy through enhanced access, knowledge, and ownership.
Last raised
Jun 2026
26 days ago
Latest fund size
$222M
Variant 4
AUM
$804.5M
estimated
Funds raised
Capital this firm has raised, newest first
Variant 4
Jun 2026
$222M
Variant Fund III
Jul 2022
$450M
Variant Fund II
Oct 2021
$110M
Debut Fund
Jan 2020 · Variant Fund I
$22.5M
Recent investments
Companies this firm has funded, newest first
| Company | Round | Amount | Date | Source |
|---|---|---|---|---|
| Morpho | — | $175M | Jun 2026 | |
| Turnkey | — | $12.5M | May 2026 | |
| Derive | — | — | Feb 2026 | |
| Doppler | Seed | $9M | Jan 2026 | |
| Tenbin Labs | Seed | $7.1M | Jan 2026 | |
| Project Eleven | Series A | $20M | Jan 2026 | |
| CascadeLead | Seed | $15M | Dec 2025 | |
| Pye Finance | Seed | $5M | Dec 2025 |
Sources
Where this data came from