Framework Ventures has closed a $400 million fourth fund as it expands beyond pure crypto into what it calls “frontier technology” — a mix of blockchain, artificial intelligence, robotics, and energy innovations.
The firm announced the fund on Friday and says roughly half of the new capital is already spoken for. Co‑founders Vance Spencer and Michael Anderson declined to name specific limited partners, but told Fortune that contributors include sovereign wealth funds, funds of funds, an Ivy League endowment, and nonprofit organizations. An SEC filing shows Framework managed $1.28 billion in assets as of December 2025.
Framework’s move reflects a deliberate shift rather than a reactive pivot to the AI boom, Anderson told Fortune. He said entrepreneurs in the firm’s existing network increasingly want to build companies that bridge crypto and AI, prompting the broader mandate. Framework launched in 2019 focused on decentralized finance and was an early backer of projects such as Aave and Chainlink. The firm later raised a $100 million second fund in 2021 and a $400 million crypto fund in 2022.
The new vehicle signals a concrete broadening of the portfolio: Framework has invested in robotics data startup Mecka AI and taken a stake in mortgage company Better.com, alongside continued blockchain investments. The strategy mirrors a wider trend in crypto venture capital this year, with several firms stretching into complementary technologies.
Peers have made similar moves — Haun Ventures unveiled a $1 billion fund in May to back crypto infrastructure, tokenization, and AI agents, and Fortune reported Paradigm is targeting as much as $1.5 billion for a fund aimed at crypto, AI, and robotics startups. Major AI players like OpenAI and Anthropic have also drawn heavy VC interest, intensifying capital flows into AI-related ventures.
At the same time, some crypto companies are reshuffling resources. Crypto custodian BitGo said this week it will cut nearly 15% of its workforce while shifting investment toward security, trading, stablecoins, settlement, and AI-powered infrastructure. And IP-focused Story Protocol rebranded as the DATA Foundation, repositioning to build blockchain-based systems for sourcing, verifying, licensing, and compensating contributors of AI training data.
Framework’s $400 million fund is another signal that the lines between crypto and adjacent frontier technologies are blurring — and that top crypto VCs are increasingly positioning themselves to back cross-disciplinary founders building at that intersection.
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