Framework Ventures Raises $400 Million Fourth Fund as Crypto VC Pushes Into AI, Robotics and Energy

Framework Ventures, the crypto-focused venture capital firm founded in 2019, has raised $400 million for its fourth fund, dubbed FVIV. The fund was oversubscribed and has already deployed roughly half of its capital, according to cofounders Michael Anderson and Vance Spencer.

The new fund will back what the firm calls “frontier technology,” which spans crypto alongside artificial intelligence (AI), robotics, and energy. The cofounders described the expansion as a response to where founders in their network are heading, rather than a retreat from blockchain.

Framework has already begun investing outside its traditional crypto lane. It led a $60 million Series A round for robotics data startup Mecka AI in June and backed Daylight, a distributed energy network. The firm declined to name its limited partners but said backers include funds of funds, an Ivy League endowment, sovereign wealth funds, and nonprofits.

Despite the broader mandate, Spencer and Anderson said the fund will continue investing in stablecoins, tokenization, and other on-chain projects. Framework’s existing crypto positions include lending protocol Aave, oracle network Chainlink, perpetuals platform Hyperliquid, Jito Labs, and stablecoin project Plasma. In February, it agreed to finance up to $500 million through the Sky stablecoin ecosystem alongside mortgage company Better.

The fourth fund matches the size of its predecessor, a third fund also raised $400 million in 2022. The firm previously raised $100 million for a second fund in 2021. The raise comes during a softer stretch for crypto fundraising, with token markets cooling and venture activity slowing. Branching into AI and robotics gives Framework exposure to areas drawing heavy investor interest, acting as a hedge against a single-sector downturn.

Framework’s move mirrors a broader shift among crypto-native investors. Rival firm a16z has also spread across AI and other frontier sectors while holding large on-chain positions. The expansion suggests the line between crypto VC and generalist tech investing is increasingly blurred.

The $400 million pool with a wider mandate means Framework can fund crypto, AI, robotics, and energy out of the same vehicle. The firm’s success outside crypto will determine if the frontier-technology thesis pays off.

Source: https://news.bitcoin.com/framework-ventures-400-million-fourth-fund-ai-robotics/