The sister company of Framework Ventures, a venture company that incubates and supports DeFi projects, Framework Labs, has closed a $8 million funding round, Forbes reported on 27 August.
According to the publication, the investment was led by Station 13, which usually focuses on blockchain ventures related to sports, media, and entertainment. Framework Labs further revealed two new additions to its team, the co-founder and former CTO of crypto exchange IDEX, Ray Pulver, and the former principal at Wavemaker Partners, Roy Learner.
The firm intends to become a “full stack partner” by helping govern blockchain protocols, provide liquidity to decentralized exchanges (DEXs), bootstrapp startups and develop consumer apps, all with a connection to DeFi. It plans to use the funds from the seed round for expanding its research, trading and engineering teams, as well as provide further liquidity to DEXs and startups, among other things.
Framework Labs claims to be a key node operator for Chainlink, providing data to its oracles, the largest liquidity provider on Uniswap, as well as being the most prominent staker on Synthetix. The founders of Framework Labs, Michael Anderson and Vance Spencer, have further claimed to have developed a new investment model, called Network Capital, which provides investments at various stages of a DeFi project’s development.
Vance Spencer said in a statement:
“It isn’t enough to buy and hold tokens and provide ‘thought leadership’ – DeFi is not a spectator sport. Active participation, governance, building of consumer products, and advanced trading strategies are all part of the complex process of making a DeFi protocol successful. We are at the bleeding edge of this financial technology.”