VC Firms Variant Fund, Atelier Ventures Merge to Focus on the ‘Ownership Economy’

VC Firms Variant Fund, Atelier Ventures Merge to Focus on the ‘Ownership Economy’
Variant Fund and Atelier Ventures, firms founded by Andressen Horowitz (a16z) veterans, are merging and launching a $110 million first-check fund to invest in the “ownership economy,” or products and services that are built, owned and operated by their users. The combined firm will be known as Variant.Jesse Walden, who focused on blockchain investments at a16z, launched Variant Fund last year with the ownership economy in mind. Around the same time, Li Jin left a16z’s consumer team to found Atelier Ventures to target new platforms that enabled users to “monetize individuality” in a so-called “passion economy.” Last month, The New…