Framework Ventures has raised $400 million for its fourth fund, signaling a clear shift from being a crypto-focused investor to a broader backer of emerging technologies like AI, robotics, energy, and fintech.
The new fund, FVIV, was oversubscribed, meaning investors wanted to invest more than the company was willing to accept. Most of Framework’s backers are large institutional players, including university endowments, sovereign wealth funds, nonprofits and fund-of-funds, but Framework did not name them directly.
The firm, best known for early bets in decentralised finance, is now diversifying its focus. It will invest in startups in artificial intelligence, robotics and energy systems, sectors it sees as increasingly interconnected, as well as crypto and digital assets.
FVIV to back startups and public markets with $1M–$50M investments
FVIV will invest in private startups and pick public markets, with checks ranging from $1 million to $50 million. This allows the fund to support companies in the early stage, but also to participate in later stage growth opportunities.
The firm started when blockchain was still a very experimental idea, Mr. Anderson, a co-founder of the framework, said.
“When we started Framework seven years ago, blockchain was the most contrarian bet in tech,” he said. “Today, it is becoming part of the core financial and technological infrastructure.
That change, he said, was what pushed the firm to move outside of crypto and into other frontier sectors.
The new strategy is based on the idea that technologies are no longer developed in isolation. In real-world applications, AI systems, blockchain networks, robotics, and energy infrastructure are converging rapidly.
Framework co-founder Vance Spencer described it as a breakdown of traditional industry boundaries.
“The next generation of companies won’t fit neatly into one category,” he said. “They’ll use AI for decision-making, blockchain for settlement, and robotics or energy systems to interact with the physical world.”
In other words, the firm is betting that future companies will be built on a mix of technologies rather than a single focus.
FVIV begins deployment with bets on AI and decentralized energy startups
FVIV has already begun to deploy capital. Among its early moves was leading a $60 million funding round in artificial intelligence startup Mecka AI. It also supported Daylight, a company creating decentralised energy networks.
In the meantime, Framework remains active in crypto. It hasn’t abandoned digital assets as it moves into new territories, with household names such as Hyperliquid, Sky and Plasma in its portfolio.
The firm has also bolstered its leadership team to support this broader strategy. Long-time partner Rajiv Patel-O’Connor has been elevated to general partner, and Fred Neary has been named general counsel. It also hired talent from other large crypto and trading firms, including Pantera Capital and DRW.
Founded in 2019, Framework Ventures first gained recognition for backing early DeFi projects such as Aave and Chainlink, some of the most successful protocols in the space.
Its funds have steadily grown in size since then, from $15 million in its first fund, to $100 million in 2021, and $400 million in 2022.
With this latest raise, Framework is positioning itself less as a pure crypto fund and more as a long-term investor in technologies shaping both the digital and physical economy.
