Crypto investment company, Framework Ventures announced raising of $400 million fund for investment in early-stage blockchain gaming, Web3, and DeFi enterprises and networks.
Nearly 50%, or $200 million of the third crypto fund dubbed, “FVIII” will be allocated for investments in the booming blockchain gaming world. Following the funding, Framework holds $1.4 billion in assets and is now one of the largest venture investment firms in the blockchain industry.
90% of Framework’s managed assets come from a small section of institutional stakeholders.
The belief that the firm can stand at the precipice of hypergrowth for consumer blockchain applications is the motive behind the FVIII fund round.
Believing that blockchain gaming is the ‘best top of funnel opportunity’ for crypto over the next decade, the firm looks forward to positioning themselves accordingly.
Framework co-founder Michael Anderson commented, “We think Web 3 gaming is the sector that has the most potential for growth within the wider blockchain industry.”
Framework and Framework Labs have expanded recently, with the teams crossing 22 people in the aggregate. New joining includes Operating Partner Daniel Mason (formerly Spring Labs), Communications Partner Adam Badrawi (formerly Chainlink Labs), as well as venture investors Rajiv Patel-O’Connor (formerly Coinbase), Brandon Potts, and Joe Coll.
As blockchain gaming becomes the latest obsession amongst entrepreneurs and established firms alike, investments have only rekindled the hunger for this idea. Recently, startup GOALS announced a $15 million seed funding round led by Northzone.