Framework Ventures
San Francisco-based crypto-native venture capital firm founded in 2019 managing ~$1.4B AUM across three funds, leading early-stage investments in DeFi, blockchain infrastructure, stablecoins, RWA, and AI+crypto startups with check sizes from $250k to $40M.
- Company typePrivate
- Founded2019
- HeadquartersSan Francisco, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Framework Ventures does
Framework Ventures is a San Francisco-based, crypto-native venture capital firm founded in 2019 by Vance Spencer and Michael Anderson. The firm invests in early-stage founders building at the intersection of blockchain, decentralized finance (DeFi), real-world asset (RWA) tokenization, stablecoin infrastructure, and increasingly AI-and-crypto convergence. Framework operates as a high-conviction lead investor with check sizes ranging from $250k to $40M, and has built a portfolio of 100+ companies across four market cycles including Chainlink, Aave, Synthetix, The Graph, Sky, Maple, Hyperliquid, Jito Labs, Better Home & Finance, Plasma, and Meanwhile.
The firm has raised three disclosed funds: an initial $8M vehicle in 2020, a $100M Fund II in 2021, and an oversubscribed $400M 'FVIII' Fund III in 2022, bringing total AUM to approximately $1.4 billion (excluding sister company Framework Labs). Its differentiating platform layer includes an in-house engineering team that operates critical DeFi infrastructure — a Chainlink node servicing over 200 price feeds and one of the largest indexer nodes on The Graph protocol — and provides portfolio companies with smart contract security reviews, tokenomics consultation, recruiting support, and access to an NFT-gated knowledge base called the Framework Tent. Beyond its funds, Framework administers the Obex stablecoin incubator, backed by a $2.5B USDS mandate from the Sky ecosystem.
Revenue is generated via traditional VC economics: management fees on committed capital across fund vintages and carried interest on fund returns spanning equity and token positions. The firm is SEC-registered (Framework Ventures Management LLC) and operates through California-domiciled LLC and LP vehicles, including Framework Ventures IV L.P. as a recently active fund/investing entity.
Framework Ventures firmographics
Firmographics- Name
- Framework Ventures
- Legal name
- Framework Ventures Management LLC
- Website
- https://framework.ventures
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- San Francisco-based crypto-native venture capital firm founded in 2019 managing ~$1.4B AUM across three funds, leading early-stage investments in DeFi, blockchain infrastructure, stablecoins, RWA, and AI+crypto startups with check sizes from $250k to $40M.
- Ownership category
- akta.pro rank
Framework Ventures industry classification
Industry- Product category
- Crypto-Native Venture Capital
- NAICS
- Open-End Investment Funds (525910), Other Investment Pools and Funds (5259)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Venture Capital Fund-of-Funds / Multi-Manager Platforms (FSANAAAJ)
- akta.pro secondary industry
- Venture Capital Fund-of-Funds (FSANAGAC)
Keywords
Where Framework Ventures is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Markets served
Framework Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Venture Capital Fund Management Fees & Carried Interest: Framework Ventures Management LLC is an SEC-registered investment adviser that raises and manages venture capital funds (e.g., $100M Fund II in 2021 and $400M FVIII Fund III in 2022, with approximately $1.4B AUM disclosed at FVIII close). Revenue is generated via traditional VC economics: management fees on committed capital and carried interest on fund returns across equity, tokens, and other digital assets.
Go-to-market motion3 records
Distribution channels3 records
Marketing channels6 records
Framework Ventures product offering
Product offeringCore offering
Framework Ventures is a San Francisco-based venture capital firm that invests in early-stage founders building blockchain, DeFi, Web3, AI, and tokenized real-world-asset startups. It raises and manages crypto-native venture funds (most recently the $400M FVIII fund) and provides portfolio companies with a post-investment platform that includes an in-house engineering team, smart contract security reviews, tokenomics advisory, recruiting support, and an NFT-gated knowledge base called the Framework Tent.
Product overview
Framework Ventures is a single-category venture capital firm offering investment funds and platform-level services to portfolio companies, rather than a unified software product with modules. Its core offering is a series of crypto-focused venture funds (most recently the $400M FVIII fund), complemented by the Framework Platform — a post-investment support layer run by an in-house engineering team that operates critical DeFi infrastructure (Chainlink node, Graph indexer), conducts smart contract security reviews, and provides business development, tokenomics, and comms support. The Framework Tent is the firm's token-gated knowledge base that consolidates much of this platform offering into a single NFT-gated portal for portfolio founders, and Bell Curve is a co-hosted weekly crypto markets podcast under the Blockworks media network. Together, these form a fund + platform + media architecture rather than a traditional SaaS product suite.
Differentiator
Problem solved
Functional benefit
Brands
- Framework Tent: A token-gated knowledge base platform offering portfolio founders curated partners, service providers, original content, and shared knowledge via Founder Pass NFTs.
Products and services
- FVIII Fund ($400M) Oversubscribed $400 million third venture fund from Framework Ventures targeting early-stage blockchain gaming, Web3, and DeFi startups and networks, with check sizes typically ranging from $5 million to $40 million.
- The Framework Tent A token-gated knowledge base accessible only to founders in the Framework Ventures portfolio via Founders Pass NFTs, providing curated lists of recommended partners, service providers, original content, and shared ecosystem knowledge.
- Framework Platform (Post-Investment Services) Framework Ventures' overarching post-investment platform offering, delivered by an in-house engineering and former-founder team. Includes operation of a Chainlink node servicing over 200 price feeds, one of the largest Graph indexer nodes, smart contract security reviews, tokenomics consultation, business development and network access across 100+ portfolio companies, and PR/comms introductions.
- Bell Curve Podcast A weekly roundup podcast co-hosted by Framework Ventures within the Blockworks media network covering the latest markets news in crypto; available on Spotify, Apple Podcasts, and YouTube.
Quantifiable outcome
- ~$1.4B in assets under management as of FVIII close
- +4 more outcomes
Companies that use Framework Ventures
Customer profileNamed customers16 records
Segments4 records
Ideal customer profiles4 records
Framework Ventures technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Framework Ventures partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered flagship and core.
- Sky / Obex incubatorflagshipFramework administers the Obex incubator, which is backed by a $2.5 billion USDS commitment from Sky. Obex runs a 12-week cohort model and focuses on real-world-asset collateral spanning compute, energy, and fintech credit, deploying capital to the next generation of yield-bearing stablecoin startups.
- Sky Ecosystem (MakerDAO / Sky)flagshipFramework Ventures co-led a $37 million funding round for Obex (alongside LayerZero), the Sky-associated stablecoin incubator administered by Framework. The Sky community has authorized up to $2.5 billion in USDS stablecoins to back Obex-incubated on-chain yield projects spanning credit, energy, and AI compute. Framework-administered Obex was described as the 'Y Combinator for Stablecoin Startups.'
- Blockworks (Bell Curve podcast)coreFramework Ventures co-hosts the Bell Curve podcast weekly on the Blockworks media network, one of the fastest-growing podcasts in the network. Distributed via Spotify, Apple Podcasts, and YouTube, the show delivers a weekly crypto market roundup.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Framework Ventures competitors and assessment
Company assessmentBroad incumbents
- Galaxy Digital / Galaxy Ventures: Galaxy operates a digital-asset investment platform with venture, trading, and asset-management arms. Broadly comparable to Framework through Galaxy Ventures' early-stage crypto investments alongside other crypto services.
- Andreessen Horowitz (a16z crypto): a16z crypto is the dedicated crypto arm of Andreessen Horowitz, investing across DeFi, infrastructure, gaming, and Web3 at much larger scale. Broadly comparable to Framework but with substantially larger fund sizes and a wider portfolio mandate.
- Coinbase Ventures: Coinbase Ventures is the corporate venture arm of Coinbase, investing broadly across DeFi, infrastructure, and crypto applications. Comparable to Framework as an active lead/co-lead crypto investor with a broad portfolio mandate.
Direct peers
- Pantera Capital: Pantera Capital is one of the longest-standing crypto-native venture firms investing across DeFi, infrastructure, and tokens. Directly comparable to Framework in fund size, multi-cycle track record, and DeFi-focused investment thesis.
- Paradigm: Paradigm is a crypto-native investment firm focused on DeFi, infrastructure, and Web3 companies. Directly comparable to Framework as a lead-investor VC competing for the same early-stage rounds in DeFi and crypto infrastructure.
- Multicoin Capital: Multicoin Capital is a thesis-driven crypto fund investing in tokens and equity across DeFi, Web3, and infrastructure. Directly comparable to Framework in stage (early), check sizes, and crypto-native lead-investor posture.
- Dragonfly Capital: Dragonfly Capital is a crypto-native VC investing across DeFi, infrastructure, and consumer crypto. Directly comparable to Framework in lead-investor orientation, fund size, and DeFi-first investment thesis.
- Polychain Capital: Polychain Capital is one of the earliest crypto-native funds investing in tokens and equity in blockchain protocols. Directly comparable to Framework as an early-conviction DeFi and infrastructure investor.
Emerging players
- Variant Fund: Variant Fund is a crypto-native fund investing in Web3 and DeFi at early stage. Comparable to Framework as an emerging crypto-native VC with thesis-driven investing, though typically at smaller check sizes.
- 1confirmation: 1confirmation is an early-stage crypto-native venture fund investing in DeFi, NFTs, and Web3. Comparable to Framework as an emerging crypto-VC focused on seed/early rounds with a similar thesis on tokenized networks.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Framework Ventures social profiles
Digital presenceFramework Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Framework Ventures leadership team
Management profileNumber of profiles
Profiles14 records
Framework Ventures subsidiaries and ownership
Company hierarchySubsidiaries1 record
Framework Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Framework Ventures M&A and investment
M&A and investmentM&A
Investments175 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Framework Ventures
What does Framework Ventures do?
Framework Ventures is a San Francisco-based venture capital firm that invests in early-stage founders building blockchain, DeFi, Web3, AI, and tokenized real-world-asset startups. It raises and manages crypto-native venture funds (most recently the $400M FVIII fund) and provides portfolio companies with a post-investment platform that includes an in-house engineering team, smart contract security reviews, tokenomics advisory, recruiting support, and an NFT-gated knowledge base called the Framework Tent.
Is Framework Ventures a public or private company?
Framework Ventures is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Framework Ventures founded?
Framework Ventures was founded in 2019. It employs 11 to 50 people.
Where is Framework Ventures based?
Framework Ventures is headquartered in San Francisco, United States, in the North America region.
How does Framework Ventures make money?
One revenue line is on record: venture Capital Fund Management Fees & Carried Interest.
Who are Framework Ventures's main competitors?
Broad incumbents on record are Galaxy Digital / Galaxy Ventures, Andreessen Horowitz (a16z crypto) and Coinbase Ventures. Direct peers are Pantera Capital, Paradigm, Multicoin Capital, Dragonfly Capital and Polychain Capital. Emerging players are Variant Fund and 1confirmation.
Does Framework Ventures have an API?
No public API is recorded for Framework Ventures.
What industry is Framework Ventures in?
Framework Ventures's product category is Crypto-Native Venture Capital. Its primary akta.pro industry code is FSANAAAJ, Venture Capital Fund-of-Funds / Multi-Manager Platforms, with a secondary code of FSANAGAC, Venture Capital Fund-of-Funds. Its NAICS code is 525910 and its SIC code is 6282.