Variant Alternative Income Fund

The Variant Alternative Income Fund (the “Fund”) is a closed-end management investment company registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), and organized as a Delaware statutory trust on April 6, 2018.

Investment Objective. The Fund’s primary objective is to provide a high level of current income. Capital appreciation will be considered a secondary objective.

Principal Investment Strategies. Under normal market conditions, the Fund will seek to achieve its investment objective by investing, directly or indirectly, a majority of its net assets (plus any borrowings for investment purposes) in alternative income-generating investments. For purposes of the Fund’s strategy, such investments may include private and public debt, loans and equity as well as other investments that generate an interest payment, dividends or other forms of distributions and that generally accrue value over time. The Fund will allocate its investments across multiple strategies with varying levels of liquidity. There can be no assurance that the Fund will achieve its investment objective.