Variant is a first-check crypto venture capital firm focused on investing in the future of the internet—one that empowers users to become owners. With a portfolio that includes influential projects like Flashbots, Foundation, Magic Eden, and Uniswap, Variant champions the development of web3 technologies and decentralized platforms. The firm's commitment to this vision is evident in its support for a wide range of stages from pre-seed to Series A investments in 2021 and 2022. Variant’s approach underlines a belief in the transformative potential of blockchain and crypto, aiming to foster innovation and ownership in the digital age. Their team, dedicated to building a user-owned web, actively contributes ideas and essays on emerging trends and opportunities within the crypto and web3 spaces.
Variant Overview
Variant - Industries
Variant - Portfolio Performance
Variant – Investment Rounds
| Project | Score | Round | Date | Round price | FDV | Status | Industry |
|---|---|---|---|---|---|---|---|
 Scroll Network | 91 | Private | 07 Mar, 23 | N/A | $1.61B | Past | |
 Farcaster | 84 | Private | 21 May, 24 | N/A | N/A | Upcoming | |
 Lens Protocol | 84 | Seed | 08 Jun, 23 | N/A | N/A | Past | |
 Hyperlane | 82 | Seed | 23 Sep, 22 | N/A | N/A | Past | |
 Phantom Wallet | 79 | Private | 15 Jul, 21 | N/A | N/A | Past |
Variant – Portfolio
| Score | Project | Current Price | Chg (24h) | Retail ROI | Retail ATH ROI | Industry |
|---|---|---|---|---|---|---|
91 | Scroll Network | $0.0307 | 19.49% | 0.0187x | 0.872x | |
84 | Farcaster | N/A | N/A | N/A | N/A | |
84 | Lens Protocol | N/A | N/A | N/A | N/A | |
82 | Hyperlane | $0.0729 | 0.40% | 2.43x | 22.14x | |
79 | Phantom Wallet | N/A | N/A | N/A | N/A |
Variant – Co-investors
| Fund | Score | Type | Project Support | Social Influence | Retail ROI | Co-investments | Total Investment |
|---|---|---|---|---|---|---|---|
 Coinbase Ventures | Very High | Exchange | High | High | 1.55x | 4 | 85 |
 Paradigm | High | Venture | Very High | Very High | 0.435x | 3 | 28 |
 Polychain Capital | Very High | Venture | Very High | High | 35.51x | 2 | 58 |
 IOSG Ventures | High | Venture | High | Low | 0.365x | 2 | 20 |
 Balaji Srinivasan | High | Angel Investors | High | Very High | 3.11x | 2 | 25 |