Variant Fund
Variant Fund last closed a fund in September 2025 — 14 months ago. By its own rhythm, that is not yet halfway to the next one.
Variant Fund has raised 3 times about every 33 months. The last was Variant Fund IV, L.P. That points to Jun 2028.
Historically about 1 in 8 firms this early in their cycle filed within a year. The month is approximate — how often this is right.
This firm closed a fund in the last 18 months, so it has money to put to work now.
Still filing with the SEC: September 2026. That is an amendment to an existing offering, not a new fund - which is what an evergreen structure looks like in this data.
- Funds on file
- 6
- Capital raised
- $341M+
- Latest close
- September 2025
- Based in
- FL, NY
Vehicles on file
| Vehicle | First close | Amount | Filings |
|---|---|---|---|
| Variant Fund IV, L.P. | September 2025 | $221M | 0002082994 ↗ |
| Variant Opportunity Fund, L.P. | March 2022 | not stated | 0001914159 ↗ |
| Variant Fund III, L.P. | March 2022 | not stated | 0001919232 ↗ |
| Variant Holding I, L.P. | February 2022 | $6M | 0001912539 ↗ |
| Variant Fund II, LP | April 2021 | $100M | 0001861370 ↗ |
| Variant Fund, L.P. | March 2020 | $13M | 0001802423 ↗ |
2 of these filed no amount (an “Indefinite” offering), so the total above is a floor.
Each row links to that vehicle’s Form D filings on EDGAR — the name, date and amount above should match what is filed there.
Named on filings
Jesse Walden
What Variant Fund invests in
- Typical fund
- $100M median, early stage, Series A-B scale
- Website
- variant.fund
Service providers
- Fund administrator
- Carta (5 funds)
- Auditor
- RSM (4 funds)
From Form ADV filed by UNOFFICIAL MANAGEMENT, INC. CRD 306409 ↗, latest filing May 2026, covering 5 funds linked to this firm by Form D file number. Form ADV is filed once a year, so a provider may have changed since. How this is matched.
What this is. Every figure on this page comes from Form D filings with the U.S. Securities and Exchange Commission — public records, reproduced here as filed. Service providers, where shown, come from the adviser’s Form ADV and are dated.
What it is not. Single-deal SPVs, feeder vehicles and GP or employee commitment funds are listed but excluded from fund counts and capital totals: an SPV is one investment, a feeder holds the same capital as its master, and a “Principals” or “Entrepreneurs” fund closes alongside a main fund rather than being raised in its own right. Capital deployed from a family office, a corporate balance sheet or an evergreen structure never arrives as a fund close, so a firm doing that looks quiet here. Amounts are as of the last amendment and go stale. Dates are the date of first sale — a fund's first close, not its final one. Funds filed as “Indefinite” are excluded from totals rather than counted as zero, so a total is a floor.
“No recent fund” is a statement about filings. It is not a statement about whether a firm is solvent, investing, or still in business.