Framework Ventures Closes $400M Fund, Expands Investment Beyond Crypto
Quick Look
- San Francisco-based Framework Ventures has closed its fourth fund, raising $400 million to invest in "frontier technology" including crypto, AI, robotics, and energy.
- This move reflects a broader trend among crypto venture firms to diversify beyond blockchain while maintaining crypto investments.
AI-generated summary
Why It Matters
Framework Ventures, founded in 2019, launched its first crypto fund focusing on DeFi, and subsequently raised a $100 million second fund in 2021 and a $400 million third fund in 2022, both primarily for crypto investments.
Framework Ventures, a venture capital company that backs crypto platforms, has closed its fourth fund while expanding its investment strategy beyond blockchain.
The San Francisco-based investor has raised $400 million to target “frontier technology,” including investments in crypto and technologies such as artificial intelligence, robotics and energy, Fortune reported on Friday.
The report cited Framework co-founders Vance Spencer and Michael Anderson, who said about half of the capital has already been deployed but declined to identify the fund's limited partners.
The raise reflects a broader push by crypto venture firms to expand beyond blockchain into other emerging technologies while continuing to invest in crypto.
Not a shift away from crypto
Framework co-founder Anderson said the company is not simply chasing the AI trend, but instead following where its existing network of founders is already building.
“We can see these founders leading us in this direction,” he said, adding:
We should pay attention.”
The company backed the robotics data startup Mecka AI in a $60 million round in early June. In February, Framework also partnered with mortgage lender Better to provide up to $500 million in financing through the Sky stablecoin ecosystem. Separately, Framework took a $45 million stake in Better, representing roughly 10% of its stock, according to Fortune.
Cointelegraph approached Framework for details regarding the latest fund, but did not receive a response at the time of publication.
Framework’s portfolio includes Hyperliquid, Plasma and Aave
Framework Ventures was founded in 2019, when it launched its first crypto fund, focusing on backing early decentralized finance (DeFi) projects.
Its portfolio includes major crypto platforms such as Aave, Chainlink, Hyperliquid, Jito Labs and Plasma, according to the company’s website.
The company says it has invested across multiple market cycles, focusing on founders building infrastructure and products in emerging digital asset markets.
Framework raised a $100 million second fund in 2021 and a $400 million third fund in 2022, both focused primarily on crypto investments.
Open Questions
- Who are the limited partners for the fourth fund?
- What specific energy technologies will Framework Ventures target?
