Crypto asset venture firm Framework Ventures has completed a $400M fundraising, announcing that half of the funds raised will invest in the blockchain gaming sector.
This is the company’s third fundraising and brings its total assets under management to $1.4B. Ninety percent of the assets under leadership came from a small number of corporate investors.
Co-founder Michael Anderson commented.
We believe that the next stage of the blockchain industry is all about acquiring new users and that gaming is the biggest top-of-funnel (i.e., first stage of the buying process/information gathering phase) opportunity. As it is introduced into gaming, we expect to see explosive growth in this sector.
The year after we launched the company in 2019, we raised another $8 million to expand our team in 2020 and launched Framework Labs as part of the Framework team’s thesis on “network capital.”
Both teams have continued to expand in recent months and now have a total team size of over 22 people.
What is a Framework?
Framework Ventures was founded in 2019 by Michael Anderson, former project manager at Snapchat, and Vance Spencer, former head of Japan operations at Netflix.
It is known as one of the first venture firms to “all in on DeFi” when the entire sector was still under $1 billion.
Official website: https://framework.ventures/
Reference: https://www.businesswire.com/news/home/20220419005759/en/Framework-Ventures-Raises-400-Million-for-Third-Fund-Earmarks-Half- for-Web3-Gaming