Venture capital firm Variant has announced the launch of a $450 million Venture Fund III to help startups focused on Defi and Web3 infrastructure.
Venture Capital (VC) firms continue penetrating the crypto sector, given that they have pumped in $17 billion so far this year.
Venture capital firm Variant was founded by veterans such as venture capital firm Andreessen Horowitz (a16Z).
This is the third funding launched by the company. Its second fund was launched in October last year, valued at $ 110 million. The fund itself comes about a year after the $22.5 million debut fund.
DeFi projects in Variant's portfolio include Cozy Finance, Empiric, Euler, Fei Protocol, Flashbots, Gearbox, Goldfinch, Morpho, Sense, Union, Uniswap, Verto, and Yield Protocol.
The company said it has doubled in size, bringing in a total of 15 professionals with deep expertise in DeFi, consumer, and infrastructure to help the fund manage portfolio support functions, as well as provide information on a listing,...
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