Framework Ventures, a San Francisco, CA-based venture capital firm entering the Decentralized Finance (DeFi) space, completed the raise of “FVIII” fund, at $400m.
The fund will invest in early-stage blockchain gaming, Web3, and DeFi startups and networks. Approximately 50%, or $200m of FVIII will be earmarked for investments in the blockchain gaming space.
With the closing of its third fund, Framework now manages approximately $1.4 billion in assets, making it one of the largest venture investment firms in the blockchain industry. 90% of Framework’s managed assets are from a small set of institutional stakeholders.
Led by Co-Founders Michael Anderson (ex Snapchat) and Vance Spencer (ex Netflix), Framework is one of the largest and earliest investors in various now multi-billion dollar protocols that span the DeFi landscape, such as oracle leader Chainlink, lending project Aave, indexing protocol The Graph, and liquidity network Tokemak, among others.
The firm has also expanded beyond DeFi into these new verticals, making investments in the widely adopted web3 tool Zapper and the multi-billion dollar blockchain game, Illuvium, among others.
Framework Ventures has also created Framework Labs as part of its thesis on “network capital”; the idea that crypto investing requires VC firms to actively participate on-chain to help protocols achieve their goals, foster their communities, decentralize and thrive.
Framework and Framework Labs have expanded in recent months, with the teams crossing 22 people in the aggregate. New hires include Operating Partner Daniel Mason (formerly Spring Labs), Communications Partner Adam Badrawi (formerly Chainlink Labs), as well as venture investors Rajiv Patel-O’Connor (formerly Coinbase), Brandon Potts, and Joe Coll.
FinSMEs
19/04/2022