Variant is a seed stage fund, historically focused on crypto. We invest at the earliest stage and work alongside founders as they build. Since 2020, we’ve rolled up our sleeves to help projects like Uniswap, Phantom, Morpho, World, and many others become category-defining companies.

We invest at the earliest stage, often as the first check on our companies’ cap tables. Our investments range from $500K to $5M. At pre-seed and seed, we typically lead or co-lead rounds, and we selectively participate in later-stage rounds. We also have an Opportunity Fund to support our portfolio companies as they grow.

We’ve earned a reputation for being hands on. Founders we work with describe us with the words “first call,” “consistent supporter,” “care deeply,” “day to day,” and “incredibly unique.”

How We Work

From launching startups ourselves to creating one of the first seed stage crypto funds, we have been here for every part of crypto’s history.

Our experience taught us that founders need true thought partners who understand the unique challenges of building in this space. We’ve invested deeply in the areas where founders need support: world-class regulatory and legal guidance, marketing and communications, and talent advisory to help you build an extraordinary team.

All our investments start with relationships. We invest in founders who are doing their life’s work with unshakeable conviction, and who share our belief that the biggest impact of new technologies are still yet to come.