Framework Ventures just closed a $400 million fourth fund, and the most interesting part isn’t the size. It’s where the money is going.
The San Francisco-based venture firm, long known for its early bets on DeFi and blockchain infrastructure, is steering a significant portion of its new capital toward AI, robotics, and energy. Co-founder Michael Anderson has framed the move as crypto’s natural evolution: the next frontier for crypto-native investors isn’t necessarily more crypto. It’s financing the technologies that will eventually intersect with it.
A fund that’s already half spent
The fourth fund, dubbed FVIV, closed oversubscribed on approximately June 26, 2026. Roughly half of the $400 million has already been deployed, which tells you the firm wasn’t sitting around waiting for the final close to start writing checks.
Among the most notable early investments: Framework led a $60 million Series A in Mecka AI, a robotics data startup. The firm also took a stake in Better.com, the publicly traded mortgage lender, through an angle involving tokenized mortgages. That last one is a useful Rosetta Stone for understanding Framework’s thesis: even when the investment target isn’t a crypto company, the transaction itself can still live on-chain.
