# Spencer Noon

> Spencer Noon is a seed investor at Variant (New York) backing Blockchain and Cryptocurrency. See 23 investments, check sizes, portfolio. Updated Aug 2026.

- Type: Angel Investor
- Fund: [Variant](https://shizune.co/investors/profile/variant-9ecc)
- Location: New York, United States
- Total investments: 23
- Last investment: Dec 2024
- Lead investor: 13%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/in/spencernoon/

Spencer Noon is a General Partner/ Investor at Variant. He attended Amherst College.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1M–$8M |
| Initial Coin Offering | $4.5M–$5.1M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Blockchain | 8 | 35% |
| Cryptocurrency | 6 | 26% |
| Web3 | 5 | 22% |
| Software | 5 | 22% |
| Ethereum | 4 | 17% |

27 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 11 | 48% |
| Funding Round | 5 | 22% |
| Initial Coin Offering | 2 | 9% |
| Venture - Series Unknown | 2 | 9% |
| Pre-Seed | 1 | 4% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 6 | 26% |
| France | 2 | 9% |
| Singapore | 2 | 9% |
| United Kingdom | 2 | 9% |
| Cayman Islands | 1 | 4% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Lens Protocol | Lens Protocol is a composable and decentralized social network serving the Web3 community. It enables creators to build their own web3 social media platforms and accounts, giving them control over their connections with their communities and also ownership over their content. | $31M | Venture - Series Unknown | Dec 18, 2024 |  |
| Avara Ventures | Avara Ventures operates is an investment firm. |  |  | Dec 18, 2024 |  |
| Ammalgam | Ammalgam is a new primitive that integrates lending and trading into a single protocol known as a Decentralized Lending Exchange (DLEX). | $2.5M | Seed | Sep 10, 2024 |  |
| Morpho Labs | Morpho is an on-chain peer-to-peer layer on top of lending pools. Rates are seamlessly improved for borrowers and lenders while preserving the same guarantees. Morpho combines the efficiency of P2P with the liquidity of lending pools. Users enjoy an improved APY while maintaining the pool’s flexibility | $50M | Venture - Series Unknown | Aug 01, 2024 |  |
| aPriori | aPriori is a monad-native MEV infrastructure and liquid staking mechanism developed for parallel executions. | $8M | Seed | Jul 23, 2024 |  |
| Usual | Usual Labs operates as a decentralized finance(DeFi) protocol. | $7.2M |  | Apr 17, 2024 |  |
| NEBRA Labs | NEBRA Labs is a blockchain services company. | $4.5M | Seed | Apr 17, 2024 |  |
| Usual | Usual Labs operates as a decentralized finance(DeFi) protocol. | $4.2M | Seed | Apr 17, 2024 |  |
| Bonsai | Bonsai is a DN-404 token on Polygon, airdropped to active Lens ecosystem profiles, serving as a community for on-chain social builders, explorers, and early adopters. | $1M | Seed | Apr 05, 2024 |  |
| MyPrize | MyPrize is supported by premier developers and top venture businesses. This is the first online casino powered by cryptocurrency with deep social interaction. | $8M | Seed | Mar 26, 2024 |  |

10 of 23 investments shown.

## Co-investors
- [Fabric Ventures](https://shizune.co/investors/profile/fabric-ventures) — VC Fund, 6 deals together
- [Triton Capital](https://shizune.co/investors/profile/kraken-ventures) — VC Fund, 5 deals together
- [a16z crypto](https://shizune.co/investors/profile/a16z-crypto) — VC Fund, 4 deals together
- [Framework Ventures](https://shizune.co/investors/profile/framework-ventures) — VC Fund, 4 deals together
- [Multicoin Capital](https://shizune.co/investors/profile/multicoin-capital) — VC Fund, 4 deals together
- [ParaFi Capital](https://shizune.co/investors/profile/parafi-capital) — VC Fund, 4 deals together

## About Variant

VC Fund · New York, United States

Variant is a web3-focused early-stage fund. According to the firm, the next iteration of the internet would turn consumers into owners. Variant was established in 2020 in New York, United States.

4 contacts available at Variant.

| Name | Title | Profile |
| --- | --- | --- |
| Daniel Roberts | Editor in Chief | https://shizune.co/investors/profile/daniel-roberts |
| Jesse Walden | Founder/Investor | https://shizune.co/investors/profile/jesse-walden-efc8 |
| Spencer Noon | General Partner/ Investor | https://shizune.co/investors/profile/spencer-noon |
| Tina Dai | Investment Partner | https://shizune.co/investors/profile/tina-dai |

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## FAQ

### What does Spencer Noon invest in?

Spencer Noon invests primarily in Blockchain, Cryptocurrency and Web3 startups, most often at Seed and Funding Round stage. Most of the 23 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Spencer Noon's check size?

Spencer Noon typically joins rounds of $1M–$8M at Seed and $4.5M–$5.1M at Initial Coin Offering. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Spencer Noon participates in.

### When did Spencer Noon last invest?

The most recent investment recorded for Spencer Noon closed in Dec 2024. Shizune tracks 23 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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