Framework Ventures raises $400 million fourth fund as it expands into AI, robotics and energy while reportedly planning to continue 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.
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:
Related: Social trading platform Fomo raises $75M, reaches $550M valuation
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 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.
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