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 app designed to bring venture capital on-chain – has launched its testnet on Ethereum.
This platform opens a new place where crypto natives as well as traditional financial players can invest and trade private equity-backed tokens, starting with Fission’s VC secondary token, TECH.
Fission is a global investment platform that simplifies the process of buying/trading private companies into just a few clicks. And Fission offers an integrated end-to-end technology stack optimized for integrating private on-chain equities, through tokenization, decentralized exchanges, decentralized lending, and automated liquidity provider infrastructure. Investors can easily purchase and trade tokens, backed by leading venture-backed companies.
KEY QUOTES:
“The launch of the Fission testnet is the first step toward a future where private equity and venture capital products converge with web3. Investors around the world deserve access to private U.S. companies and the ability to sell their stakes whenever they want. DeFi will revolutionize the liquidity of private funds and enable a whole new class of global market participants to own America’s most innovative companies. Fission combines the best of institutional-grade compliance with a native DeFi experience to deliver compelling products to financial institutions and retail users.
-Jonathan Shaffer, CEO and co-founder of Fission Labs
