Investor Profile: Framework Ventures — Thesis, Cheque Size & How to Apply

Framework Ventures funding is some of the most sought-after capital in crypto — and increasingly in AI, robotics and energy. The San Francisco firm grew from a two-person fund launched in 2019 into a manager with roughly $1.28 billion in assets under management at end-2025 (per regulatory filings), built on prescient early bets across decentralised finance.

Thesis & focus

Framework Ventures is a thesis-driven, high-conviction investor that builds alongside founders in decentralised technology. Co-founders Michael Anderson and Vance Spencer call their approach "network capital": the firm takes meaningful stakes in token networks — historically targeting 4–6% of a token's supply — then stakes coins, provides liquidity, runs infrastructure and participates in governance. Its affiliate Framework Labs houses the technologists who build products for, and operate inside, the networks the fund backs. The firm historically led around 80% of the major rounds it joined.

In June 2026 the firm closed its fourth fund, FVIV, at $400 million — oversubscribed, with roughly half already deployed at close. The mandate marks a deliberate expansion: Framework Ventures now backs "frontier technology" where blockchain infrastructure converges with AI, robotics and energy, alongside crypto roots in DeFi, stablecoins and tokenisation.

Sectors & stages

The firm leads early-stage rounds across blockchain infrastructure, DeFi, stablecoins and tokenisation — and, under the new mandate, AI platforms and developer tools, robotics and automation, energy and industrial innovation, and fintech bridging traditional finance with on-chain rails. Check sizes typically range from $5m to $50m, and the firm leads rather than follows.

Fund size

Framework Ventures has raised four funds: $15 million (2019), $100 million (2021), $400 million (2022) and $400 million for FVIV (2026). LPs in the latest fund include sovereign wealth funds, fund-of-funds, an Ivy League endowment and non-profits — an institutional vote of confidence in a crypto-native manager moving into frontier tech.

Notable portfolio

Early wins made the firm's name: Chainlink, Synthetix, Aave, The Graph and Optimism. Newer holdings include Hyperliquid, Jito Labs and Plasma. Under the expanded mandate, the firm led robotics startup Mecka AI's $60 million Series A, led Ultra Robotics' $50 million Series A, and structured a $500 million deployment into Better.com through Sky's stablecoin ecosystem.

Key people

Michael Anderson (ex-Dropbox, ex-Snap) and Vance Spencer (ex-Deloitte, ex-Netflix Japan) founded the firm after selling their NFT startup Hashletes in 2019, and both led the FVIV raise.

Programs, perks & network

Framework Ventures runs no cohort programmes. Its value-add is operational: via Framework Labs the team has run validator nodes on networks like Chainlink and The Graph, supplied liquidity and shipped tooling for portfolio protocols. Founders also get a deep network of crypto-native builders and follow-on investors, plus a dedicated jobs board.

How to apply for funding

There is no public pitch portal — like most crypto-native VCs, Framework Ventures sources through warm introductions and direct partner outreach. Founders building at the intersection of crypto and frontier tech (AI agents, robotics infrastructure, tokenised assets, energy systems) fit best. The site at framework.ventures is the first point of contact; a warm intro through a portfolio founder carries the most weight.