Li Jin coined and popularized the concept of the Passion Economy, reframing consumer internet investing around niche, income-generating work that aligns with individuals' talents and passions rather than generic platforms or marketplaces. She blends investor and creator identities by actively creating content as a core part of her investing practice, treating content creation as a primary function rather than just marketing.
What they've been talking about across their social media accounts
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- Deep interest in the convergence of AI and crypto, specifically breaking the sector down into two distinct opportunities: using crypto infrastructure to solve AI problems like data ownership, and using AI interfaces to simplify crypto user experiences. She highlights portfolio examples like Worldcoin and Botto that combine these technologies to make systems more equitable and user-owned.
- A focus on next-generation marketplaces that utilize token incentives to bootstrap supply and bypass traditional Web2 limitations. She argues that future platforms will feel more like personalized AI concierge services rather than static lists of products, enabling net-new economic interactions that were previously impossible.
- Enthusiasm for Data DAOs and decentralized networks that encourage users to contribute proprietary information. She views these collectives as a critical solution to the current data shortages in AI model training, suggesting that token rewards can help aggregate valuable datasets in fields like personal health and reinforcement learning.
- Support for consumer-facing crypto applications, particularly those building onchain social networks and reputation systems. She points to the Farcaster ecosystem as a prime example of how storing user history and followers on a protocol level allows new applications to inherit trust and identity without starting from scratch.
- Active effort to help founders navigate distribution challenges, specifically the friction between crypto applications and mobile app store policies. She organizes peer support groups for builders facing review hurdles to share strategies for successful mobile deployment and broad consumer access.
About their Fund
Sectors
Web3 / Crypto, Fintech, Social, Media, Devtools
Rounds
Seed - Series A
Avg Check Size
$250K - $750K
Notable Investments
Variant is a crypto venture capital firm built around a "user-ownership" thesis, investing in decentralized networks that turn users into owners through a combined approach of early-stage seed investments and active liquid token trading within the same firm. The fund operates as both a VC and onchain-native media node, running structured founder programs and the "Variant Network" peer community where portfolio companies co-develop best practices through function-specific working groups, while publishing deep research essays and policy guidance that founders can collect onchain.
Other partners at the fund
Notable Fund
Investments
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