Fission raises $10M to fix the exit problem in tokenized funds

Tokenization has made it remarkably easy to put money into private funds. Getting it back out is another matter entirely. Fission, a New York-based startup, has raised a $10 million Series A to close that gap. Pantera Capital led the round, which closed in September and was announced on Thursday. Circle Ventures, Borderless Capital, and Ari Rubenstein also joined. Fission declined to share its valuation. Selling in seconds, not seasons Fission is tackling a quirk in the tokenized fund market. Asset managers have been turning fund shares into digital tokens on blockchains. That makes the shares easier to issue, track, and hold. What it hasn’t done is make them easier to sell. Without a ready buyer, investors can wait months to cash out. Traditional redemption processes for these funds can stretch past 200 days. Fission’s pitch is to shrink that window to roughly 90 seconds. Qualified investors can sell their positions through digital wallets. Settlement happens in stablecoins, and the platform runs 24/7. The company describes its settlement as atomic. Both the fund shares and the payment change hands in a single transaction, with no partial completion. If either side of the trade fa...