Framework Labs raised $ 8 million in a funding round
Framework Labs, a sister company to Framework Ventures, raised $ 8 million in a new seed round.
Station 13, an investment firm focusing on blockchain endeavors related to sports, media, and entertainment, led a fundraiser for Framework Labs. $ 8 million was raised. The framework will use these funds to enlarge its team of researchers, traders and engineers. The company has already hired former CTO and co-founder of the IDEX decentralized exchange, Ray Pulvear, and former Wavemaker Partners director Roy Learner.
According to a Forbes report on August 27, Framework Labs founders Michael Anderson and Vance Spencer have developed a new investment model called Network Capital that allows investing in DeFi companies at multiple stages.
Unlike venture capital companies, private equity firms and hedge funds that focus on investing in only one stage of development, Framework Labs will invest in different stages and be able to incubate startups, provide liquidity and build new applications based on protocols .
Spencer explained the move towards DeFi, saying that the technology "takes effect on its own and begins to achieve a product market fit to scale, but traditional investors are behind the wheel when it comes to category."
"It's not enough to buy and hold tokens and provide" thought leadership "- DeFi is not an audience sport. Active participation, management, consumer product building and advanced trading strategies are part of the complex process by which the DeFi protocol is successful."
The founders of Framework Labs have become prominent figures in the cryptocurrency space, with their largest investments being made outside of the core teams at Chainlink (LINK) and Synthetix. Prior to founding Framework Ventures in 2019, the pair created and sold Hashletes, an NFT token-issuing company. The company is also a major liquidity provider on the decentralized Uniswap platform.