Variant is an early-stage fund that invests in web3. They believe that the next generation of the internet will transform users into owners. The company backs mission-aligned founders at the earliest possible stage. Their portfolio includes leading founders and projects in web3, such as Uniswap, Phantom, and Ceramic. The company's leadership team includes Co-Founders and General Partners Jesse Walden and Li Jin. Variant provides ideas and essays through their newsletter and supports the building of the user-owned web.