Tokenized private funds have been generating plenty of buzz in recent years, but the real bottleneck is often not “how do I get in?” but “who will buy when I want out?”
New York startup Fission announced today that it has raised a $10 million Series A led by Pantera Capital, with participation from Circle Ventures, Borderless Capital, and Ari Rubenstein of GTS, among others. The funding will primarily be used to expand liquidity capacity and bring more tokenized private and semi-liquid funds onto the platform.
The pain point is straightforward: traditional redemption windows can stretch to around 200 days. Fission says it acts as the buyer: eligible investors sell through their wallets, with atomic settlement in stablecoins, targeting a turnaround of about 90 seconds, 24/7. It has already handled several million dollars in redemption transactions. The team comes from Point72 and Securitize. On the compliance side, it operates a permissioned market based on eligible-investor status and transfer restrictions, and says it is connecting with institutional products in ecosystems such as Centrifuge.
Unlike the tokenized stocks flooding our feeds today—where the competition is about trading hours—here it’s about whether the shares themselves can be liquidated at any time. Circle’s entry is no surprise: settlement is in stablecoins, which fits the reserve/liquidity narrative on the $USDC side.
Filtering only, not educating. Not investment advice.