TechFlow News, June 3: According to Fortune, Variant—a venture capital firm focused on crypto—has closed its fourth fund, Variant 4, raising $222 million. The fund will primarily invest in earliest-stage companies and support their growth.
Jesse Walden, Variant’s founder, stated that the fund continues the firm’s prior investment thesis centered on blockchain decentralization, while expanding its thematic focus to include AI and “autonomy.” He noted that although the Web3 vision has not yet been fully realized, decentralization has already yielded concrete successes in decentralized finance (DeFi), such as Uniswap and Morpho. Looking ahead, he believes crypto will increasingly serve as infrastructure and a settlement rail underpinning diverse products—not as a standalone product category.
