Fission, a blockchain-enabled financial technology firm, has raised US$10 million in Series A funding to expand liquidity infrastructure for tokenized investment funds. The round was led by Pantera Capital and included participation from Circle Ventures, New Form, gumi Cryptos Capital, Borderless Capital, and Ari Rubenstein, CEO of GTS. The company said the capital will help close the gap between the rapid tokenization of private-market funds and the slower liquidity mechanisms that still govern them.
Addressing the Liquidity Gap in Tokenized Funds
Tokenization has made it easier to issue, distribute, and settle fund interests on digital rails, but many underlying market structures remain unchanged. Tokenized funds often still rely on periodic redemption windows, limited secondary liquidity, and restrictive financing structures. Fission aims to change that by enabling eligible investors to access capital without waiting for traditional fund redemption cycles.
Series A Funding and Investor Participation
The US$10 million Series A round adds Pantera Capital, Circle Ventures, Borderless Capital, and Ari Rubenstein to Fission's investor base. They join existing backers including New Form, gumi Cryptos Capital, Anthony Scaramucci, Manhattan Venture Partners, Reflexive Capital, and Lattice Capital. The funding will support expanded liquidity capacity, a broader range of tokenized private-market and semi-liquid funds, and deeper integrations across the digital investment ecosystem.
Building Institutional-Grade Liquidity Infrastructure
Fission's platform is purpose-built for institutional and permissioned markets, with infrastructure designed around investor eligibility, transfer restrictions, and compliance requirements governing regulated investment products. The company supports a growing universe of tokenized funds across asset classes including private credit, alternatives, and other institutional investment products. This approach allows Fission to bring on-chain liquidity to these assets while preserving the controls required by securities markets.
Early Traction and Redemption Activity
Fission has already processed millions of dollars in redemptions, demonstrating growing demand for more flexible liquidity across tokenized private-market funds. The company enables investor liquidity for supported tokenized fund products, allowing eligible holders to bypass traditional redemption cycles. This early transaction activity underscores the need for faster access to capital as tokenized funds become more widely adopted.
Leadership Perspective and Market Vision
Jonathan Shaffer, Founder and CEO of Fission, said that putting funds on-chain is only the beginning. He noted that the real promise of tokenization is creating fundamentally better markets around these assets, including broader distribution, continuous liquidity, and the ability to use fund interests as collateral in lending markets. Shaffer said Fission is building technology that makes private and constrained assets more liquid, transferable, and useful across financial markets.
Investor Confidence in the Future of Tokenized Funds
Franklin Bi, General Partner at Pantera Capital, said that investment funds are moving onto digital rails and liquidity is a critical piece for that transition to reach its full potential. He added that Fission is building infrastructure that will help transform tokenized funds from representations of traditional products with legacy constraints into fundamentally more liquid and productive assets. Pantera Capital, an institutional investment firm focused on blockchain technology and digital assets, launched the first blockchain fund in the United States in 2013.
The new capital positions Fission to expand its liquidity capacity and deepen its role in the digital investment ecosystem. As tokenization continues to reshape private-market funds, the company is focused on building the connective infrastructure between traditional fund structures and on-chain capital markets. The Series A round highlights growing investor conviction that liquidity solutions are essential to the next stage of tokenized fund adoption.