Framework Ventures has raised a new $400 million fund, focusing on investments at the intersection of tokenization, stablecoins, and cutting-edge technologies. The firm believes that the next phase of blockchain growth will no longer be limited to internal crypto asset cycles, but will instead provide financing channels for capital-intensive industries such as AI, robotics, and energy.
Bet on on-chain financing scenarios
Framework co-founder Michael Anderson said the industry’s focus has clearly shifted. Between 2020 and 2021, the market primarily revolved around DeFi, DAOs, and products tailored for crypto users; today, an increasing number of entrepreneurs are treating blockchain as financing infrastructure for real-world industries.
In his view, tokenization, blockchain networks, and stablecoins are evolving from crypto-native products into new financial instruments, with uses extending beyond trading and speculation to include funding industries that require significant upfront investment.
AI computing power is considered a key focus area.
The framework lists AI infrastructure as one of the key use cases. Anderson believes that GPUs and other computing hardware are suitable to serve as collateral, and if tokenized and brought on-chain, they could provide these assets with lower-cost financing options.
He noted that it is difficult for traditional securitization markets to bundle individual servers or standalone computing devices into investable products, whereas on-chain stablecoin pools are offering an alternative pathway. With the circulating supply of stablecoins on-chain exceeding $300 billion, these funds are being viewed as a new source of asset-backed lending.
Investment has expanded into energy and payments.
Framework’s recent investments also reflect this assessment, covering areas such as energy, robotics, and stablecoin payments, including:
- Daylight: Financing residential solar projects through a decentralized energy network
- Uranium Digital: Building a tokenized trading market for physical uranium
- Plasma: Building a blockchain banking platform around stablecoin payments
In addition, the institution has invested in TVL Capital and robotics startup Mecka AI. The former was founded by former members of Morgan Stanley’s digital assets team, while the latter provides training data for cutting-edge AI companies.
Anderson also noted that the backgrounds of entrepreneurs entering the crypto industry are evolving. Unlike early anonymous developers and speculative protocols, the new generation of founders increasingly comes from traditional finance, energy, and industrial technology sectors, with a focus on using blockchain to solve real-world business funding challenges.
From a broader perspective, this assessment aligns with industry trends: global banks and asset management institutions are increasingly using blockchain networks to issue, trade, and settle traditional financial assets, while stablecoins are expanding their use in cross-border payments and corporate treasury management.