Variant, a Web3 venture firm, has raised $450 million. This includes a $150 million seed-fund for early-stage projects as well as a $300 million fund to support teams with “proved traction from our portfolio” and beyond. The venture is led by veteran a16z investors Li Jin, Jesse Walden and Spencer Noon. It focuses on investments in user-owned networks that can create favorable economic terms.
Variant’s third fund focuses on user experience and ownership. It is Variant’s third fund so far. Variant’s fund launches at a time when crypto winter has delayed capital inflows for relevant investments. Crunchbase data shows that crypto VC investments totaled $9.3B in the first half 2022, down 26% compared to last year. General partner Jesse Walden described Variant’s investment thesis “being the marquee fund in Web3”, as he believes such strategy is the foundation that determines the fund’s size. This partly explains why the first two raised only $110M and $22.5M respectively – a small amount compared with VC giants like a16z. Li Jin, co-founder, believes that the next three to five year period will be crucial for mainstream adoption of Web3 projects. She argued that Web3 projects would be more financially empowering than traditional Web2 giants by allowing users to own their capital.
Web2 was digital feudalism and Web3 digital capitalism. Web3 is a paradigm shift in that it introduces capitalism on the internet. It allows people to own capital and own their output.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.