Framework Ventures Backs DeFi Protocol Better with $500M Investment
Venture capital firm Framework Ventures has committed $500 million to DeFi protocol Better. This strategic investment aims to bolster Better's development and token launch on the Sky protocol.
Framework Ventures, a prominent venture capital firm in the Web3 space, has announced a significant commitment of $500 million to support the decentralized finance (DeFi) protocol Better.
As part of this strategic initiative, Framework Ventures has reportedly secured a 10% stake in Better through a $45 million acquisition.
This partnership is designed to accelerate Better's growth and facilitate its upcoming token launch.
The token is slated to be deployed on the Sky protocol, a platform that enables cross-chain infrastructure for Web3 applications.
This substantial investment underscores Framework Ventures' confidence in Better's potential within the burgeoning DeFi sector.
The collaboration is expected to drive innovation and adoption for both Better and the broader Sky protocol ecosystem, highlighting the growing trend of traditional venture capital playing a pivotal role in scaling nascent Web3 projects.
Originally reported by CoinTelegraph.