Framework Ventures closes $400M Fund IV for crypto and frontier tech

Framework Ventures has closed a $400 million fourth fund, known as FVIV, to invest across blockchain, artificial intelligence, robotics, energy and fintech. The firm said the vehicle is oversubscribed and has already deployed about half of its capital, signaling that it is actively backing startups even as the fund is being rolled out.

The new fund marks a broader mandate for the San Francisco-based venture firm, which built its reputation on crypto-native investing. Co-founders Vance Spencer and Michael Anderson said the firm still plans to back stablecoins, tokenization and other onchain projects, but will now allocate capital to a wider set of frontier technology companies as well.

Framework did not disclose the limited partners behind the fund, but said backers include funds of funds, an Ivy League endowment, sovereign wealth funds and nonprofits. Reports also said the firm has already made non-crypto investments such as Mecka AI, a robotics data startup, which suggests the new fund is intended to support both digital-asset infrastructure and adjacent technologies.