Cryptocurrency Venture Startup Variant Attracts $450M

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Venture firm Variant has raised $450 million in two new funds focused on the Web3 and decentralized finance sectors.

According to the company, it has raised $300 million for an “opportunity fund” and $150 million to invest in industry startups.

Recall Varian completed its first fund in 2020. In 2021, together with Atelier Ventures, the company launched a second $110 million fund.

The Variant portfolio includes a very wide range of projects in the cryptocurrency industry, including NFT marketplace Magic Eden and decentralized exchange Uniswap.

The new funds focus on four groups of investment areas, including decentralized finance, infrastructure blockchain startups, consumer Web3 applications and projects experimenting with new forms of ownership.

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