what's Variant Fund?
Variant Fund is an early-stage venture capital firm specializing in investments within the cryptocurrency and web3 ecosystems. The fund focuses on backing founders building networks and platforms that enable user ownership in the internet economy, emphasizing decentralized technologies, DeFi, and blockchain infrastructure. With a thesis centered on transforming users into owners, Variant supports innovative projects that redefine digital interactions through crypto-native models. The firm's approach involves active collaboration with portfolio companies, providing resources on policy, hiring, and market insights tailored to the crypto space. Variant has committed significant capital to seed and opportunity funds, targeting high-potential web3 startups. Its blog and writings offer in-depth analysis on topics like stablecoins, staking regulations, and the evolution of crypto compensation, serving as a thought leadership hub for the industry.
Jake Chervinsky transitioned from Variant Fund CLO to advisor on Feb 6, 2026.
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x.com/variantfundPurchased $2.5M META tokens at $8.6 per token prior to February 2026.
Co-led a $7M seed funding round for Levl alongside Galaxy.
Chief Legal Officer Jake Chervinsky stepped down from his full-time role on February 6, 2026, transitioning to an advisor position.
Participated in Rialo's $20M seed funding round led by Pantera Capital in August 2025, alongside Coinbase Ventures, Hashed, Mysten Labs, and others.
Added an Investment Partner on December 16, 2025.
Variant Fund backs Cascade (cascade_xyz), a perpetual markets platform, alongside Polychain and other investors.
Variant Fund supports the World Build program, a joint initiative between Worldcoin and FWB to build mini apps for World App's 37M+ users.
Variant Fund and dba_crypto submitted a joint proposal to acquire $6M of META tokens via OTC deal from MetaDAO Project.