Framework Ventures, based in San Francisco, completed a fourth fund-raising fund of $400 million, which was no longer limited to encrypted assets but extended to areas such as AI, robotics and energy. The co-founders indicated that the new fund would be directed towards “frontier technology”, where encryption remained a component but was no longer the only focus.
Funding sources and deployment progress
Framework did not disclose a list of specific donors, but stated that the current round included parent funds, the Ivy University Endowment Fund, the Sovereign Wealth Fund and non-profit institutions. According to its submission to the United States Securities and Exchange Commission, the institution managed assets of $128.0 billion in December 2025.
According to Michael Anderson, the fourth fund is currently deployed at about half of the funds, which means that the fund has started to invest in the field before formal external disclosure.
Expand from DeFi to AI and Machine People
Framework was founded in 2019 and early attention was paid to the betting of the DeFi agreement. The agency had invested in the encrypted lending agreement, Aave, and the block chain data network, Chainlink, both of which were later the head of the DeFi project.
In previous rounds of fund-raising, the focus of Framework remained on encryption: $100 million for the second fund in 2021 and $400 million for the third fund in 2022. Today, the agency has begun to emphasize non-encrypted investments, including Mecca AI, the robotic data start-up company, and the shares of the listed mortgage lender Better.com.
Encryption wind to synchronise direction
It was mentioned that, as AI valuations continued to rise, some of the wind-out agencies that had focused on digital assets were reoriented simultaneously. Framework argues that this change is not simply about pursuing the hot track, but also about the diversion of interest in his network of entrepreneurs.
Paradigm, a similar institution, is reportedly raising funds for a new fund of up to $1.5 billion, covering encryption, AI and robotics. Haun Ventures has also expanded investment from block chains to AI, financial services and alternative assets and raised $1 billion for the second fund.
From Framework, the team has been following the progress of AI research in recent years and has even organized research in the San Francisco office. For this DeFi institution, the new fund shows that it is shifting the layout from a single encrypted track to a broader science and technology investment landscape.