Framework Ventures has closed a $400 million fourth fund, according to Cointelegraph, marking an expansion beyond its crypto-native roots into artificial intelligence, robotics, and energy infrastructure.
The firm plans to continue backing crypto projects while diversifying into adjacent technology sectors. The scale of the raise underscores investor appetite for funds that straddle crypto and broader tech—a shift Framework has signaled over recent years as it built positions in AI and hardware companies.
Framework was founded in 2018 by Vance Spencer and Michael Cohen. The firm has backed projects including Arbitrum, Avalanche, and Starknet in its crypto portfolio. The new fund suggests confidence from limited partners in the firm's thesis that breakthrough value often lives at the intersection of multiple technology domains rather than confined to a single narrative.
Neither Framework nor Cointelegraph disclosed the specific allocation breakdown between crypto and non-crypto sectors in the new fund. That ambiguity leaves open how the $400 million will ultimately be deployed—whether it tilts heavily toward AI (which has dominated venture funding in recent years), or maintains a more balanced thesis across the three stated areas.
The fund's close comes as crypto venture capital has stabilized after a brutal 2022 and 2023. Funding flows into blockchain projects have recovered modestly this year, though still trail the peak cycles of 2021. Framework's expansion into energy and robotics may partly reflect the reality that many limited partners now expect crypto-focused funds to have exposure beyond digital assets alone.