Variant Alternative Income Fund (NICHX) Form 424B3 — Apr 29, 2026

Variant Alternative Income Fund filed a post-effective supplement to its prospectus dated August 31, 2025, to update disclosures regarding conflicts of interest. The supplement adds new risk language stating the investment manager may sell portions of investment opportunities to third parties and receive fees that do not benefit the Fund. Additionally, the filing replaces sections in both the Prospectus and the Statement of Additional Information (SAI) regarding conflicts of interest.

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