HedgeCo.Net — Fission, a New York blockchain fintech building liquidity infrastructure for tokenized investment funds, said it closed a $10 million Series A led by Pantera Capital. The round also brought in Circle Ventures, Borderless Capital and Ari Rubenstein, CEO of GTS, alongside existing backers including New Form and gumi Cryptos Capital.
Tokenization has moved fund interests onto digital rails for issuance and settlement, but many vehicles still rely on periodic redemption windows and thin secondary markets. Fission says it lets eligible investors in supported tokenized private-market and semi-liquid funds access capital without waiting for traditional redemption cycles, and that it has already processed millions of dollars of redemptions.
Founder and CEO Jonathan Shaffer argued that putting funds on-chain is only the start; the larger opportunity is continuous liquidity and using fund interests as collateral. Pantera General Partner Franklin Bi said liquidity is one of the pieces required for tokenized funds to become more productive assets rather than digital wrappers of legacy constraints.
Proceeds will expand liquidity capacity, widen the set of supported tokenized and semi-liquid funds, and deepen institutional integrations. Fission’s platform is built for permissioned markets, with controls around investor eligibility and transfer restrictions typical of regulated securities products.
For allocators in crypto and private markets, the raise is less about another engine and more about secondary plumbing: if tokenized PE and private-credit vehicles scale, liquidity intermediaries may become as important as the tokenization platforms themselves. Watch which fund sponsors integrate Fission and whether redemption volumes grow with the new capital.