Framework Ventures' $400M Fund Targets Real-World Assets

Framework Ventures raised $400 million for its fourth fund, according to a securities filing. The vehicle, Framework Ventures IV L.P., was filed with the SEC in September 2024. Co-founders Michael Anderson and Vance Spencer led the raise.

The firm's third fund, FVIII, closed at the same $400 million level in April 2022. About $200 million of that went to blockchain gaming. The other $200 million went to Web3 and DeFi projects.

Framework's focus has shifted since then. In February 2026, the firm partnered with Better Home & Finance to set up a $500 million credit facility tied to the Sky stablecoin ecosystem. That deal included a $45 million equity stake in Better.

In April 2025, Framework led a $14.4 million pre-seed and seed round for Unto Labs, a company building on blockchain infrastructure.

The fourth fund's strategy reaches beyond digital assets. The Better deal shows the firm is placing capital in real-world assets, the credit facility giving Sky stablecoin a direct link to mortgage lending.

At the close of its third fund, Framework had roughly $1.4 billion in total assets under management.