[Framework Ventures Faces Over $50.8 Million Unrealized Loss on BERA Tokens] As of the end of Q2 2025, Framework Ventures has incurred an unrealized loss of over $50.8 million on the 21,145,476 BERA tokens it purchased for $72.4 million during Berachain's Series B funding round, based on current prices. Framework Ventures and Brevan Howard's Nova Fund co-led the Series B funding round for Berachain. Earlier reports suggested that Brevan Howard's investment in Berachain included a $25 million 'refund right,' but Berachain's co-founder denied offering any 'special refund rights,' stating that the related terms were compliance arrangements with precedents in the industry.