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The Venture Codex

Variant Fund

1027 Grand Street #205, Brooklyn, NEW YORK, 11211, United States

Overview

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.

Total investments
12
Lead investments
3
Investments · 12mo
2
Active investors
4

Sector focus

  • Blockchain
  • Finance
  • Internet
  • Marketplace
  • Venture Capital
  • Web3
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Investment portfolio

  • Infinia

    Led · Series A · Jul 2026

    Founded in 2023 by Ianai Urwicz and Alejandro Rettig, Infinia offers a compliance-focused infrastructure layer that connects local payment networks with stablecoin rails to enable automated settlements and real-time treasury clearing for enterprise customers. The company positions itself as a bridge between traditional banks and digital asset infrastructure in emerging markets. Infinia is a Y Combinator spin-off and lists YC among its investors. Following the $13.5 million Series A, the startup plans to secure additional regulatory licenses and accelerate geographic expansion across Latin America, Africa, and Asia. The funding round was co-led by Bain Capital and Variant Fund with participation from several institutional backers, signaling investor confidence as it scales.

  • Levl

    Participated · Seed · Feb 2026

    Levl operates an infrastructure layer that lets businesses collect, store, convert and transfer money across borders in either fiat currencies or stablecoins such as USDC and USDT. The platform replaces the 3–5-day delays of correspondent banking with same-day settlement while beating interbank FX rates and currently supports payouts to more than 75 countries. In its first four months, Levl surpassed an annualized $1 billion in transaction volume and now serves over 1 million end-users through clients like TerraPay, TapTap Send and Nala. Founded in 2023 after being spun out of Galaxy Digital, the company is led by former AQR FX trader Jaisel Sandhu and draws talent from PayPal, Deutsche Bank, BlackRock and other major institutions. Levl is regulated in Switzerland and Canada and maintains offices in London, New York, Canada and Switzerland. Future product expansion will target B2B cross-border transfers, card and stablecoin payment processing, and lending solutions, leveraging the new capital to deepen its feature set and geographic reach.

  • Botto

    Participated · Equity · Mar 2024

    BottoDAO is a decentralized, autonomous artist community centered on digital art NFTs. The organization is managed by its community members. It completed a $1.67 million financing conducted via Treasury OTC transactions. The round was led by 1kx, with participation from Collab+Currency and Variant Fund. Proceeds will fund increased research and development to enhance Botto's agency, autonomy, and decentralized governance. The funds will also be used to expand Botto's influence and to develop cross-media creation and learning capabilities to build artistic intent.

  • Koop

    Led · Equity · Aug 2022

    Koop is a protocol for creators and communities to issue NFT-based membership passes (called Koops) that grant members ownership and voting rights over a shared treasury. Koops can be used for projects ranging from venture funds to clothing brands, and are aimed primarily at content creators, musicians, gaming guilds and creator DAOs. The product launched to the public after two months in private beta and is marketed as a lighter-weight, more social alternative to traditional DAOs with optional centralization. Koop reports $110 million in total value across the treasuries of its 50 active communities, a waitlist of 8,500 groups, and sign-ups growing 4x week-over-week. Current users include Mems NFT, The Heart Project, 1confirmation, musicians with creatorDAOs and gaming guilds.

  • Ceramic Network

    Participated · Series A · Feb 2022

    Ceramic, developed by 3Box Labs, is a decentralized platform for blockchain application data that enables developers to decentralize application databases and make data universally composable and reusable across web3 apps. The platform adds behaviors to static data files so they can be composed into higher-order data structures and distributed across a decentralized network. Highlighted use cases include decentralized social media, crypto gaming, portable self-sovereign identity services, shared data schemas, interoperable application storage, and open web services without new accounts. Ceramic debuted in beta in June and has been used by thousands of web3 developers and integrated with more than 400 applications. 3Box Labs raised $30 million in a Series A to continue development of Ceramic. With the new capital the company said it intends to hire more than 25 employees across engineering, product, and community roles.

Team