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Framework completes $400 million fundraising for its fourth fund, which will be invested in "frontier technology" areas.
BlockBeats news, June 26, according to Fortune, crypto venture capital firm Framework Ventures announced the closing of its fourth fund, with a size of $400 million. Investors include Ivy League endowments, sovereign wealth funds, and non-profit organizations, with the specific list undisclosed. Framework co-founders Vance Spencer and Michael Anderson said the new fund will invest in "frontier technology" areas, not only crypto but also AI, robotics, and energy, among others. Currently, about half of the fourth fund has been deployed.
Founded in 2019, Framework Ventures initially focused on DeFi investments, participating in early rounds of top protocols such as Aave and Chainlink. It previously completed its second and third fundraisers of $100 million and $400 million in 2021 and 2022, respectively.