Fission Raises $10M Led by Pantera to Solve Tokenized Fund Liquidity

The Funding and Investors

Fission announced October 15 that it had raised $10 million in a Series funding round led by Pantera Capital, with participation from Circle Ventures and unnamed other backers. The firm operates in tokenization infrastructure, specifically focused on liquidity for alternative investments such as private credit and private equity funds.

The Problem Fission Addresses

Tokenizing fund shares on a blockchain improves record-keeping and transfer efficiency, but does not automatically create a liquid market. Private funds typically impose transfer restrictions and limited redemption windows, leaving investors with few options to exit their positions quickly. Fission is building secondary-market infrastructure to provide liquidity for tokenized fund holdings for qualifying investors, allowing them to sell outside the traditional fund redemption cycle rather than wait for periodic distribution periods.

Market Context

The tokenization industry has spent years emphasizing faster asset transfers across blockchains. Fission's focus on the exit problem—enabling investors to actually recover capital from tokenized positions—addresses a more complex layer of the infrastructure puzzle. The firm's approach could reshape how alternative asset managers think about liquidity constraints once their holdings move on-chain.