Framework Ventures Raises $400M to Expand Beyond Crypto

Framework Ventures has closed a $400 million fourth fund to broaden its investments beyond crypto into artificial intelligence, robotics and energy. The San Francisco firm said roughly half of the fund’s capital has already been deployed.

Founded in 2019, Framework built an early track record in decentralized finance. Co‑founders Vance Spencer and Michael Anderson confirmed the fund close and declined to identify limited partners.

The firm intends to keep investing in crypto while adding stakes in other emerging technologies. Michael Anderson noted the firm is following projects its founder network is building and pointed to founders as a guide for where to allocate capital. “We can see these founders leading us in this direction,” he said. “We should pay attention.”

Framework’s portfolio includes Aave, Chainlink, Hyperliquid, Jito Labs and Plasma. Recent activity outside pure crypto includes a stake in robotics data startup Mecka AI in a $60 million round closed in early June. In February, Framework partnered with mortgage lender Better to provide up to $500 million in financing through the Sky stablecoin ecosystem and took about a $45 million stake in Better, roughly 10% of the company’s stock.

Framework raised a $100 million second fund in 2021 and a $400 million third fund in 2022, which focused primarily on crypto. The firm said it has invested across multiple market cycles and remains focused on founders building infrastructure and products in digital asset markets. Framework declined to provide further details on the new fund’s limited partners or additional comments.