This a16z Alum Is Launching a VC Fund Centered on Platforms You Can ‘Personal’

An Andreessen Horowitz (a16z) alum is launching a brand new enterprise agency centered on constructing a crypto-powered “possession financial system.” 

Jesse Walden, who centered on blockchain investments at a16z, introduced his Variant Fund in a weblog put up revealed Tuesday.

Walden mentioned the brand new fund is concentrated on the concept that the individuals who make platforms and merchandise robust can share of their development. He wrote:

“Crypto uncovered the ability of possession as a device to drive customers to contribute to protocols they use in deeper methods. Now, the chance is to comply with the sample, and construct extra accessible merchandise (and protocols) that bootstrap adoption & participation by higher financial alignment with customers.”

He cites examples like Compound, which is distributing a big portion of its governance tokens to customers, Reddit, which is beginning to type out how tokens match into the Internet 2.zero large’s enterprise mannequin, and different examples.

In an e-mail to CoinDesk, Walden mentioned the fund is backed by a16z’s Chris Dixon and Marc Andreessen, Union Sq. Ventures and Compound’s Robert Leshner – “mentors I respect and have constructed relationships with through the years as each an entrepreneur and investor,” Walden wrote.

Variant Fund has made investments already, Walden mentioned, however they’ve but to be introduced.

Walden co-founded Mediachain, an a16z-backed blockchain startup that tracked possession rights of on-line photographs and different mental property. After the agency was acquired by Spotify in 2017, Walden labored for the music-streaming large for 9 months earlier than decamping to a16z.

“To assist construct the possession financial system, I’ll associate with entrepreneurs and communities on the earliest doable phases,” Walden wrote.

Longtime political watchers may draw a connection between the “possession financial system” thesis and former President George W. Bush’s “possession society” messaging.

In 2003, the President bemoaned a previous the place solely a only a few held fairness in main firms, celebrating a gift the place it was doable for nearly anybody to carry a share. 

What the President in all probability didn’t anticipate at the moment was a future the place individuals may personal an organization that exists solely on the internet and, like Bitcoin, has nobody specifically in cost. As Walden described in one other weblog put up from January, Variant seems constructed to assist founders head in that path.