Fission announced a $1.6 million pre-seed funding round led by SALT Fund and Kraynos Capital, with participation from Anthony Scaramucci (Skybridge). Fission – the first DeFi application built to bring venture capital on chain – launched its testnet on Ethereum.
This platform opens a new venue where crypto natives as well as traditional finance participants can invest in and trade private equity backed tokens, starting with Fission’s VC secondaries token, TECH.
Fission is a global investment platform that simplifies the process of buying/trading private ventures to just a few clicks. And Fission offers an end-to-end integrated technology stack that is optimized for bringing private equities on-chain—through tokenization, decentralized exchange, decentralized lending, and automated liquidity provider infrastructure. Investors can easily purchase and trade tokens, backed by top tier VC-funded companies.
KEY QUOTES:
“Fission’s testnet launch is the first step into a future where private equity and venture capital products converge with web3. Investors everywhere in the world deserve access to American private companies and the ability to sell their stakes when they want. DeFi will revolutionize liquidity for private funds and enable an entirely new class of global market participants to own America’s most innovative companies. Fission combines the best of institutional grade compliance with a DeFi native experience to offer compelling products for both financial institutions and retail users alike.”
-Jonathan Shaffer, CEO and Co-founder of Fission Labs
