Framework Ventures has closed a $400 million fourth fund aimed at startups building across crypto, artificial intelligence, robotics, and energy — signaling a deliberate move from pure crypto bets toward broader “frontier technology.”
Quick take
- Size: $400 million fund (fourth fund)
- Focus: blockchain, AI, robotics, and energy
- Commitments: roughly half already committed, per co-founders
- LPs: unnamed mix including sovereign wealth funds, funds of funds, an Ivy League endowment, and nonprofits
- Firm AUM: $1.28 billion as of December 2025 (SEC filing)
What Framework is doing and why it matters
Announced Friday, Framework’s fourth vehicle expands the firm’s mandate beyond decentralized finance. Co‑founders Vance Spencer and Michael Anderson told Fortune that the move is driven by what entrepreneurs in their network want to build — projects that sit at the intersection of crypto and AI — rather than simply jumping on the recent AI funding wave.
Framework, which launched in 2019 and was an early backer of Aave and Chainlink, has scaled through prior raises: a $100 million second fund in 2021 and another $400 million crypto-focused fund in 2022. The firm now manages about $1.28 billion in assets, according to an SEC filing.
Portfolio signal
The new fund reflects a broadened investment palette. Framework’s recent bets already include companies outside pure blockchain: robotics data startup Mecka AI and a stake in mortgage lender Better.com. Those investments underscore a push into data, automation, and real-world infrastructure that can complement blockchain applications.
Industry context: convergence and mandate expansion
Framework is hardly alone. Other crypto VCs are widening scopes or raising large cross-disciplinary vehicles:
- Haun Ventures announced a $1 billion fund in May to back crypto infrastructure, tokenization, and AI agents.
- Paradigm is reportedly seeking up to $1.5 billion for a fund covering crypto, AI, and robotics.
At the same time, the AI sector — led by developers like OpenAI and Anthropic — continues to attract significant venture capital, encouraging crypto-focused investors to pursue opportunities that blend AI and blockchain. Many firms are keeping exposure to blockchain while adding AI, robotics, or other adjacent verticals to their playbooks.
Broader industry moves
Several crypto companies have made operational shifts that echo this cross-disciplinary focus: BitGo recently cut about 15% of its workforce to redeploy resources toward security, trading, stablecoins, settlement, and AI-powered infrastructure. Separately, Story Protocol rebranded as the DATA Foundation to build blockchain-based infrastructure for sourcing, verifying, licensing, and compensating contributors of AI training data.
Bottom line
Framework’s $400 million fund underscores a broader trend in crypto venture capital: diversification into “frontier” technologies where AI, robotics, energy, and blockchain intersect. For founders building at those junctures, it means more specialized capital; for the market, it’s another sign that the next wave of venture dollars will back cross-domain infrastructure and applications, not just standalone digital assets.
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