Venture Capital Firm Variant Will Create a $450 Million Fund III

Variant, a venture capital firm, has announced the creation of Venture Fund III, a $450 million fund that would assist entrepreneurs focusing on Defi and Web3 infrastructure.

Venture Fund III offers $150 million in seed funding and $300 million in opportunity funds, according to the company.

Veterans of venture capital firms Andreessen Horowitz and Variant created the venture capital firm Variant (a16Z).

This is the third investment round that the company has launched. In October of last year, its second fund, worth $ 110 million, was created. The fund itself follows the $22.5 million debut fund by almost a year.

Cozy Finance, Empiric, Euler, Fei Protocol, Flashbots, Gearbox, Goldfinch, Morpho, Sense, Union, Uniswap, Verto, and Yield Protocol are among the DeFi projects in Variant's portfolio.

The company stated that it has doubled in size, adding a total of 15 employees with expertise in DeFi, consumer, and infrastructure to help the fund handle portfolio support activities and provide information on listing, token design, community growth, etc.

Partners Jin Li, Spencer Noon, and Jesse Walden stated, Variant is intended for the current state of cryptocurrencies. There's a reason we've stayed small: it enables us to engage closely with our Portfolios and advise founders on the most crucial difficulties they confront early in their journeys.

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