Framework Ventures

Framework Ventures is a venture capital firm based in San Francisco, founded in 2019 by Vance Spencer and Michael Anderson. Spencer previously worked at Monitor Deloitte and Netflix on corporate development in Asia, while Anderson worked as a product manager focusing on monetization platforms at Snapchat and Dropbox. The firm operates with a high-conviction approach, generally leading early-stage rounds with checks from $5 million to $50 million.

Framework built its initial track record as an early backer of decentralized finance and core Web3 infrastructure. Its notable portfolio companies include Chainlink, Synthetix, Aave, and The Graph, where it participated in a $5.1 million seed round in 2020. The firm also led seed and venture rounds for Maple Finance between 2020 and 2023, and joined Jito's $10 million Series A round in 2022.

The firm has expanded beyond pure crypto networks into adjacent frontier technologies like physical AI, robotics, and decentralized energy. Framework raised a $100 million second fund in May 2021, followed by a $400 million third fund in April 2022. In June 2026, the firm raised $400 million for its fourth fund, bringing its assets under management to more than $1.2 billion.

Recent portfolio activity highlights this broader mandate. Framework led a $24 million round for stablecoin protocol Plasma in February 2025 and a $75 million round for decentralized energy protocol Daylight in November 2025. In June 2026, the firm led a $60 million round for Mecka AI, followed by leading a $50 million Series A for Ultra Robotics in October 2026.