Framework Labs, the sister company to Framework Ventures, has raised $8 million from investors in a funding round. The proceeds will be used to build out a team of researchers, traders and engineers.
We’ve been up to something…announcing Framework Labs! 🙌https://t.co/AZGepWa7t1 @therorymurray @ForbesCrypto
— Framework Ventures (@hiFramework) August 27, 2020
The company has already hired Ray Pulver, the former CTO and co-founder of the non-custodial exchange IDEX.
Founders Michael Anderson and Vance Spencer have developed a new investment model, called Network Capital, for investing in DeFi companies across multiple stages: from startup formation and staking to providing liquidity and building new applications on top of protocols.
This approach differentiates Framework Labs from venture funds, private equity funds and hedge funds, which focus on a single financing stage.
The founders are known for sizeable investments in teams behind projects such as Chainlink (LINK) and Synthetix (SNX). The company is one of the largest liquidity providers on the decentralised exchange Uniswap.
As of writing, assets worth $7.4 billion were frozen in DeFi protocols, according to DeFi Pulse.
Earlier, the DeFi protocol Perpetual Protocol attracted $1.8 million in a funding round. The project is based on a virtual automated market maker (vAMM).
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