# Variant

> Variant is a VC fund in New York backing Blockchain and Cryptocurrency. See 117 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: New York, United States
- Total investments: 117
- Last investment: Jul 2026
- Lead investor: 26%
- Fund size: $450M
- Last fund: Jul 2022
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/variantfund/
- X (Twitter): https://twitter.com/variantfund
- Website: https://variant.fund/

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.

## Contacts

5 contacts available for Variant. Shizune tracks 4 team members at Variant. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/variant-9ecc?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $4.5M–$20M |
| Series A | $11M–$30M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Blockchain | 33 | 28% |
| Cryptocurrency | 22 | 19% |
| Information Technology | 14 | 12% |
| FinTech | 11 | 9% |
| Software | 11 | 9% |

58 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 38 | 32% |
| Series A | 17 | 15% |
| Funding Round | 8 | 7% |
| Pre-Seed | 5 | 4% |
| Series B | 4 | 3% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 35 | 30% |
| United Kingdom | 3 | 3% |
| India | 1 | 1% |
| France | 1 | 1% |
| Israel | 1 | 1% |

9 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Daniel Roberts | Editor in Chief | 0 | https://shizune.co/investors/profile/daniel-roberts |
| Jesse Walden | Founder/Investor | 11 | https://shizune.co/investors/profile/jesse-walden-efc8 |
| Spencer Noon | General Partner/ Investor | 23 | https://shizune.co/investors/profile/spencer-noon |
| Tina Dai | Investment Partner | 0 | https://shizune.co/investors/profile/tina-dai |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Tenor Labs | Tenor helps people borrow and lend money at a fixed rate without needing permission. |  | Seed | Jul 22, 2026 |  |
| Augustus | Augustus builds an AI-native, stablecoin-based clearing and banking platform for financial institutions. The company focuses on enabling digital asset and stablecoin-based clearing to support payments and banking workflows. Its platform is designed for banks, fintechs, and other regulated financial institutions that require infrastructure fordigital asset transactions. Augustus integrates artificial intelligence into its systems to support automated processes and decisioning around payments and clearing. The company positions its offerings as core banking and payments infrastructure centered on digital assets rather than traditional legacy systems. | $180M | Series B | Jul 21, 2026 |  |
| Infinia | Infinia is a platform that assists the company's clients in managing transfer charges. Allowing you to charge using this method, check each transaction without accessing sensitive information from the accounts that connect to our service, and reconcile all payments in one spot. Integrate your e-commerce applications and platforms withInfinia's open banking platform to facilitate product and service payment without intermediaries and in a secure manner. | $13.5M | Series A | Jul 09, 2026 |  |
| 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 | $175M | Venture - Series Unknown | Jun 09, 2026 |  |
| 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 | $175M |  | Jun 09, 2026 |  |
| Turnkey | Turnkey is an encryption service provider that offers secure APIs to manage private keys. | $12.5M | Venture - Series Unknown | May 14, 2026 |  |
| Swoop | Swoop operates as an internet marketplace platform that provides food delivery services while building a broader consumer super-app ecosystem. The company connects users with restaurants through a mobile and digital platform, enabling customers to browse menus, place orders, and receive deliveries via an independent rider network. Its deliverymodel relies on third-party couriers who fulfill orders, while the platform coordinates transactions, routing, and customer interactions. The company generates revenue through restaurant commissions and service fees applied to customer orders, rather than directly employing delivery personnel. | $7.3M | Seed | Apr 24, 2026 |  |
| Levl | Levl GmbH is a Swiss fintech company based in Zug, focused on cross-border payments and global payment infrastructure. It enables businesses to send and receive payments in over 100 countries via web app or API, with origins as a spin-out from Galaxy Digital. company's primary goal is building and securing approval for a DLT (DistributedLedger Technology) trading system, along with its operation. ​ | $7M | Seed | Feb 11, 2026 |  |
| Lyra Finance | Lyra is the most complete decentralized crypto options trading protocol built on Ethereum. Lyra combines the best of traditional options market making (tried and tested pricing and risk management) with crypto’s two biggest strengths scalability and composability. |  | Initial Coin Offering | Feb 02, 2026 |  |
| Doppler | Doppler is a blockchain protocol enabling developers to launch token markets with built-in price discovery and liquidity tools. | $9M | Seed | Jan 29, 2026 |  |

10 of 117 investments shown.

## Co-investors
- [Coinbase Ventures](https://shizune.co/investors/profile/coinbase-ventures) — VC Fund, 29 deals together
- [Andreessen Horowitz](https://shizune.co/investors/profile/andreessen-horowitz) — VC Fund, 17 deals together
- [Union Square Ventures](https://shizune.co/investors/profile/union-square-ventures) — VC Fund, 15 deals together
- [Paradigm](https://shizune.co/investors/profile/paradigm-b23a) — VC Fund, 13 deals together
- [a16z crypto](https://shizune.co/investors/profile/a16z-crypto) — VC Fund, 12 deals together
- [Nascent](https://shizune.co/investors/profile/nascent-91c1) — VC Fund, 11 deals together

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## FAQ

### What does Variant invest in?

Variant invests primarily in Blockchain, Cryptocurrency and Information Technology startups, most often at Seed and Series A stage. Most of the 117 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 Variant's check size?

Variant typically joins rounds of $4.5M–$20M at Seed and $11M–$30M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Variant participates in.

### How do I contact Variant?

Public channels for Variant include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Variant?

The team at Variant includes Daniel Roberts (Editor in Chief), Jesse Walden (Founder/Investor) and Spencer Noon (General Partner/ Investor). The Team section lists each member with their title, investment count and links.

### 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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