Variant
We invest in technology that expands human autonomy.
In the firm's own words, from its website.
12 additional team members, 37 additional co-investors and affiliates, 52 additional investments, funds and LPs, 8 events, 13 verified contacts (12 professional url, 1 firm phone)
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 1 vehicleon Form D, 18 months
$221M reported sold so far.
A Form D is filed when a vehicle takes its first money, so these are open to LPs now.
- 2 companiesportfolio raising
2 portfolio companies have new financing on record in 6 months without this firm named on the round; the latest on 21 Jul 2026 ($180M round).
A portfolio company raising again is a follow-on decision for the firm and a co-investment opening for others.
- 1 departurepeople, 12 months
A team member departed on 6 May 2026.
A partner leaving or arriving changes who decides, and who a founder or LP should call.
InferenceIAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)For Founders, LPs, recruitersTeam → - 7 dealswith CNK Equity Partners I
Invests most often alongside CNK Equity Partners I (7 shared deals) and A.capital Ventures (4 shared deals).
pair last observed on record 1 Oct 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.
Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →
People to know
View all people- Investment PartnerWhy: Partner: part of the investment decisionProfile
- Investment PartnerWhy: Partner: part of the investment decisionProfile
- Managing MemberWhy: Named with investment responsibilityNo route on file yet
Relationship network
125 connected entities3 observed rounds1 repeat counterparty
From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.
Some relationships on this record are counted rather than named here. They open with the full profile.
Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.
- Sponsor
- Company
- Fund or vehicle
- Person
›How strength and recency are read
Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.
Darker lines were active in the last 24 months or are current; lighter lines are older or undated.
How am I connected?
Name your firm, a company or a person, and DFX finds the published routes to Variant: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.
See how you connect to Variant
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Investing
50 companies on record, 3 new in 12 months
Investments on record
What these amounts mean“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.Acquired, Public, Exited and Active are what the firm’s own portfolio card says, read on the date shown when you hover the chip; they are not deal dates. A company with no chip is one whose card states no outcome: DFX does not assume it is active.| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Aleo | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
| Artemis Seed | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
| Augustus | portfolio listing | unknown | unknown | unknown | unknown | Oct 1, 2026 | Fact Firm website |
Stated thesis versus observed behaviour
- Sectors
- not stated or not yet read
- Stages
- not stated or not yet read
- Geography
- new york
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Team
17 current, 1 departed
Decision makers
- Alana Levin · Investment PartnerWhy this person: Partner: part of the investment decision; Named with investment responsibilityLinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
- Caleb Shack · Investment PartnerWhy this person: Partner: part of the investment decision; Named with investment responsibilityLinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. 2 with a route on file. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.
Investment team
How the team is orderedPartners who lead rounds first (rounds led, then deals attributed, then seniority), then the rest of the investment team, then investor relations, finance and operations. A person named by two sources under two spellings is shown once.- Managing Member
- Investment Partner
- Investment Partner
1 departed (kept with end dates)
- Jacob Chervinsky · Chief Legal Officer · Jan 1, 2024 to May 6, 2026 Fact
Contacts
1 firm phone, 12 professional url on record, each with its source. Values open with the complete profile.
Funds and LPs
8 vehicles, 0 LPs disclosed
Funds and vehicles
What these amounts meanGAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Variant Fund IV, L.P. | Fund | 2025 form d first sale | Fundraising | $0 May 6, 2026 | 52 | $221M of $250M | Sep 9, 2026 |
| Variant Fund II, LP | Fund | 2021 form d first sale | Mature | $62.8M May 6, 2026 | 108 | $100M of $100M | Oct 21, 2021 |
| Variant Community Fund II, LP | Fund | 2021 form d first sale | Mature | $6.4M May 6, 2026 | 49 | $10.0M of $10.0M | Oct 21, 2021 |
Limited partners
Known LPs and allocators
What these amounts and dates areEach commitment is counted once across the pension tape and the allocator graph. A commitment date prints only when the source printed one; otherwise the row carries the report date. A foundation’s 990-PF line is a holding at fair value, never a commitment. Rows without a fund on the venture graph are commitments to this manager.| Allocator | Type | Fund | Amount | Date | Source |
|---|---|---|---|---|---|
| Hillman Family Foundations | FOUNDATION | Variant Opportunity Fund, L.P. | $6.2M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
| Hillman Family Foundations | FOUNDATION | Variant Fund II, LP | $4.4M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
| Hillman Family Foundations | FOUNDATION | Variant Fund III, L.P. | $1.8M fair value on the foundation's return | reported as of Dec 31, 2024 | Fact IRS Form 990 / 990-PF e-file returns |
Relationships across DFX
52 co-investors · on 2 other DFX graphs
Co-investors
- 2026-10-017 shared deals · strong
- 2026-10-014 shared deals · strong
- 2026-10-014 shared deals · strong
Compare portfolios with CNK Equity Partners I, LLC, A.capital Ventures, Union Square Ventures or any firm. Co-investors across the market
Across DFX and the capital chainon 2 other DFX graphs · 1 capital path ShowHide
- The same institution is held on Allocators, RIA and Wealth, matched by identifier. See which records
Variant is the same institution as 2 records in Allocators and RIA and Wealth.
DFX found 2 relationships across 2 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Checking your plan…
Variant sits on 1 traced path of capital across the graphs.
DFX traced 1 path of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Evidence and history
13 dated events, 68 observations from 4 sources
Timeline
- May 6, 2026Jacob Chervinsky (Chief Legal Officer) no longer on Schedule A of Variant
- May 6, 2026Variant Fund IV, L.P. first reported on Form ADV by Variant (Venture Capital Fund)
- Sep 8, 2025Variant filed the first Form D for Variant Fund IV, L.P. (fund 4), its next fund after Variant Fund III, L.P. (vintage 2022); offering $250.0M
- Jan 1, 2024Jacob Chervinsky joined Schedule A of Variant as Chief Legal Officer
- Jul 1, 2022Variant Fund, L.P. first reported on Form ADV by Unofficial Management, Inc. (Venture Capital Fund), GAV $119,603,923
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed May 6, 2026 · 8 private fundsShowHide
- Headquarters
- New York, NYadviserinfo.sec.gov
- Office address
- unknownadviserinfo.sec.gov
- Business phone
- unknownadviserinfo.sec.gov
- Website
- variant.fund
- SEC adviser type
- Registered investment adviseradviserinfo.sec.gov
- SEC exemption claimed
- unknown
- Latest Form ADV
- May 6, 2026
- Private funds reported
- 8 (8 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets, adviser total
- $458Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Regulatory AUM
- $729Mthe adviser's RAUM, a regulatory measure, never a fund size
- Employees
- 12
Classification history
Classification history
Every classification this record has carried3 on recordShowHide
- Sep 23, 2026Multi-stage venture firm (probable, 80%)Both early and growth/opportunity families, reported GAV $458M
- Sep 15, 2026Multi-stage venture firm (probable, 80%)Both early and growth/opportunity families, reported GAV $838M
- Sep 12, 2026Multi-stage venture firm (probable, 80%)Both early and growth/opportunity families, reported GAV $834M
Evidence
Every observation behind this profile, with its source, date and class
| Fact | Value | Effective | Class | Source |
|---|---|---|---|---|
| Why admitted | VC funds reported | May 6, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | May 6, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | May 6, 2026 | Fact | Form ADV |
| SEC adviser type | Registered investment adviser | Sep 27, 2024 | Fact | Form ADV |
| First Form ADV filing | 2022-07-01 | May 6, 2026 | Fact | Form ADV |
| First Form ADV filing | 2022-07-01 | Sep 27, 2024 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-30 | Oct 1, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-29 | Sep 30, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-25 | Sep 26, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-23 | Sep 24, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-21 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1+panel:2026-09-22 | Sep 23, 2026 | Fact | Form ADV |
| Adv history loaded | adv-hist-1 | Sep 12, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-05-06 | May 6, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2026-05-06 | May 6, 2026 | Fact | Form ADV |
| Latest Form ADV filing | 2024-09-27 | Sep 27, 2024 | Fact | Form ADV |
| SEC status | Approved | May 6, 2026 | Fact | Form ADV |
| SEC status effective | 2022-07-29 | May 6, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | May 6, 2026 | Fact | Form ADV |
| Venture share of reported funds | 1 | Sep 27, 2024 | Fact | Form ADV |
| Business phone | May 6, 2026 | Fact | Form ADV | |
| Business phone | Sep 27, 2024 | Fact | Form ADV | |
| Contact page url | Oct 1, 2026 | Fact | ||
| Contact page url | Sep 16, 2026 | Fact | ||
| Description | Oct 1, 2026 | Fact | ||
| Description | Sep 16, 2026 | Fact | ||
| Description | Sep 13, 2026 | Fact | ||
| Employees | 12 | May 6, 2026 | Fact | Form ADV |
| Employees | 14 | Sep 27, 2024 | Fact | Form ADV |
| Headquarters | New York, NY | May 6, 2026 | Fact | Form ADV |
| Headquarters | New York, NY | Sep 27, 2024 | Fact | Form ADV |
| Office address | May 6, 2026 | Fact | Form ADV | |
| Office address | Sep 27, 2024 | Fact | Form ADV | |
| Self-described type | Venture capital | Oct 1, 2026 | Fact | |
| Self-described type | Venture capital | Sep 16, 2026 | Fact | |
| Self-described type | Venture capital | Sep 13, 2026 | Fact | |
| Legal form | Corporation | May 6, 2026 | Fact | Form ADV |
| Portfolio page | Oct 1, 2026 | Fact | ||
| Portfolio page | Sep 16, 2026 | Fact | ||
| Portfolio page | Sep 13, 2026 | Fact | ||
| Private funds reported | 8 | May 6, 2026 | Fact | Form ADV |
| Private funds reported | 8 | May 6, 2026 | Fact | Form ADV |
| Private funds reported | 7 | Sep 27, 2024 | Fact | Form ADV |
| Private fund gross assets (reported) | $458M | May 6, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $458M | May 6, 2026 | Fact | Form ADV |
| Private fund gross assets (reported) | $838M | Sep 27, 2024 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $729M | May 6, 2026 | Fact | Form ADV |
| Regulatory AUM (adviser, not fund size) | $838M | Sep 27, 2024 | Fact | Form ADV |
| Schedule a diff | sadiff-1 | May 6, 2026 | Fact | Form ADV |
| Stated geography | new york “geography words on the home page” | Oct 1, 2026 | Fact | |
| Stated geography | new york “geography words on the home page” | Sep 16, 2026 | Fact | |
| Stated geography | new york “geography words on the home page” | Sep 13, 2026 | Fact | |
| Team page | Oct 1, 2026 | Fact | ||
| Team page | Sep 16, 2026 | Fact | ||
| Team page | Sep 13, 2026 | Fact | ||
| Venture funds reported | 8 | May 6, 2026 | Fact | Form ADV |
| Venture funds reported | 8 | May 6, 2026 | Fact | Form ADV |
| Venture funds reported | 7 | Sep 27, 2024 | Fact | Form ADV |
| Website | Sep 27, 2024 | Fact | Form ADV | |
| Site title | Oct 1, 2026 | Fact | ||
| Site title | Sep 16, 2026 | Fact | ||
| Site title | Sep 13, 2026 | Fact |
How this is scored
Scores, classification basis and filing advisersMulti-stage venture firm, probableShowHide
Both early and growth/opportunity families, reported GAV $458M
- importance
- gav: 0.5 · funds: 0.67 · people: 0.24 · investments: 0.63 · co investors: 0.69
- active deployment
- investments 12m: 0.38 · fund raising 18m: 1 · people joined 12m: 0 · vintage within 3y: 1 · latest investment at: 2026-01-29
- emerging manager
- fund count: 8 · reported gav: $458M · first adv filing: 2022-07-01 · years since first filing: 4.3
Fits, record history and connections
scored matches for this investor, every identity change, every edge
Fits
- score 25.7confidence 80%Why: activity; cap table
- score 25.7confidence 80%Why: activity; cap table
- score 20.7confidence 80%Why: activity; cap table
+1 more scored match
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Scored by DFX match engines from the record's observed portfolio, stage, geography and recent activity. A fit is a reason to look, not a mandate; the blockers say what the model could not confirm. Names and the evidence sentences show with the names on this page.
Record history
- Adviser's first ADV filing2022-07-01source on record
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.