Framework Ventures Expands Into AI, Raises $400M Fund

Framework Ventures, a San Francisco-based venture capital firm that backs crypto platforms, has closed its fourth fund, raising $400 million to target frontier technology including crypto, artificial intelligence, robotics and energy. Co-founders Vance Spencer and Michael Anderson said about half the capital has already been deployed but declined to identify the fund's limited partners.

Anderson said the company is not abandoning crypto and is following where its network of founders is building, adding that the firm should pay attention to that direction. The firm backed robotics data startup Mecka AI in a $60 million round in early June. In February it partnered with mortgage lender Better to provide up to $500 million in financing through the Sky stablecoin ecosystem and took a $45 million stake in Better, representing roughly 10% of its stock.

Founded in 2019 to back early DeFi projects, Framework has invested across multiple market cycles in platforms such as Aave, Chainlink, Hyperliquid, Jito Labs and Plasma.

United States, San Francisco

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