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Framework Labs raises a $ 8 million financing round

Framework Labs, the sister company of Framework Ventures, raised $ 8 million in a new round of seed funding.

Station 13, an investment firm focused on blockchain businesses in the sports, media and entertainment sectors, led the $ 8 million fundraising round for Framework Labs. Framework will use the funds to expand its team of researchers, distributors, and engineers. The company has already hired former technical director and co-founder of the decentralized exchange IDEX Ray Pulver and former director of Wavemaker Partners Roy Learner.

According to a report by Forbes on Aug. 27, the founders of Framework Labs, Michael Anderson and Vance Spencer created a new investment model called Network Capital to invest in multi-tier DeFi companies.

Framework Labs raises a $ 8 million financing round
Framework Labs raises a $ 8 million financing round

Unlike venture capital firms, private equity firms, and hedge funds, which typically focus on investing in a single phase of development, Framework Labs will invest in multiple phases and will be able to incubate startups, provide equity, provide liquidity, and build new applications based on the protocols.

Spencer explained Framework Labs’ move towards decentralized funding The technology “reached its own level and began to reach a scale product market, but traditional investors are asleep on the category at the wheel.”.

“It is not enough to buy and hold tokens and offer ‘thought guidance’. DeFi is not a spectator sport. Active participation, governance, consumer product development, and advanced business strategies are part of the complex process to make a DeFi protocol successful.. “

The founders of Framework Labs have become prominent figures in the crypto spacewith the largest investments outside of the core teams in Chainlink (LINK) and Synthetix. Prior to founding Framework Ventures in 2019, the couple founded and sold Hashletes, a company that brings non-fungible tokens to market. The company is also a major liquidity provider on the decentralized Uniswap platform..

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