Crypto-native VC Framework Ventures closes $400M fourth fund, oversubscribed, to deploy into frontier tech including AI and robotics. Also backs energy and blockchain bets.
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Framework Ventures has closed a $400 million fourth fund, an oversubscribed vehicle that the crypto-focused firm plans to deploy beyond digital assets into artificial intelligence and robotics, plus energy infrastructure. Cofounders Michael Anderson and Vance Spencer said the fund, FVIV, has already deployed roughly half its capital under a strategy they call "frontier technology."
The new mandate reflects where the founders' network is heading rather than a retreat from blockchain. The firm will continue to back stablecoins and tokenization, along with other onchain projects, alongside the new frontier-tech bets. Framework's existing crypto positions include lending protocol Aave, oracle network Chainlink, perpetuals platform Hyperliquid, Jito Labs, and stablecoin project Plasma.
Framework has already written checks outside its traditional lane. In June, it led a $60 million Series A for robotics data startup Mecka AI. It also backed Daylight, a distributed energy network. Those investments signal the thesis is operational, not aspirational.
The firm declined to name its limited partners but said backers include funds of funds, an Ivy League endowment, sovereign wealth funds and nonprofits. That roster indicates institutional demand for crypto-native managers, the cofounders said.
The fund's size matches its predecessor, a $400 million third fund raised in 2022. That consistency holds even as the investment strategy broadens well beyond tokens. The pivot arrives while crypto fundraising has cooled and token markets softened. Branching into AI and robotics gives Framework exposure to areas drawing heavy investor interest, a hedge against a single-sector downturn, Spencer and Anderson said.
Framework's move mirrors a broader shift among crypto-native investors. Rival firm a16z has spread across AI and other frontier sectors while holding large onchain positions. The line between crypto VC and generalist tech investing is blurring.
The cofounders said the early bets, including Mecka AI and Daylight, will test whether the frontier approach works. If those generate returns and attract follow-on capital, the strategy gains credibility. A failure to exit or a market downturn in AI or robotics could pressure the approach, especially if crypto markets recover and the firm appears distracted. The fourth fund matches its predecessor in size, giving Framework the same firepower with a wider mandate.
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