Fission Labs Announces $1.6M Pre-Seed Raise led by SALT Fund, Kraynos Capital; Launches Closed Testnet to Bring VC to DeFi

EAST HAMPTON, N.Y., Oct. 10, 2024 /PRNewswire/ -- Fission announced today its $1.6M 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 today on Ethereum. The platform opens a new venue where crypto natives as well as traditional finance participants can invest in and trade private equity backed tokens, beginning with Fission's VC secondaries token, TECH.

Fission is a global investment platform that simplifies the process of buying and trading private ventures to just a few clicks. 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.

Jonathan Shaffer, CEO and Co-founder of Fission Labs, commented on today's news, "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."

Central to Fission's mission is its robust global community. This is a hands-on opportunity for the community to build Fission's protocol. To learn more about Fission, or to request access to our testnet, please go to:

Fission.xyz

About Fission
Fission is the first DeFi application built for VC products on Ethereum that integrates tokenization, trading, lending, and automated liquidity provisioning into a simple, intuitive, end-to-end solution. The founders are seasoned CeFi and DeFi experts from Point72, MakerDAO, and Compound and our partners are market leaders in the space. Our mission is to simplify private equity investing for a global community, offering users liquidity and boosted returns.

SOURCE Fission Labs