$11M Raise to Bring Structured Investment Strategies On-Chain for City Protocol

Crypto infrastructure firm City Protocol has raised $11 million in funding to develop infrastructure for structured investment products on-chain. The raise is aimed at building out a tokenization layer, vault layer, and issuance and operations layer.

The company's flagship product, Venzo, already runs four strategy vaults built on that infrastructure: quantitative hedging, cross-exchange arbitrage, private credit, and on-chain yield. Returns and risk are meant to mirror traditional structured notes, but settled and tracked on-chain instead of through a broker.

The funding comes from seven backers, including Dragonfly, Jump Crypto, CMT Digital, Mirana, Bitscale Capital, Adaverse, and Stratified Capital. Several of these firms have invested in City Protocol before, with some backing the company's earlier $7 million seed round in May 2025.

The raise marks a shift in how City Protocol presents itself, moving from tokenizing intellectual property to structured financial products. The company's own wording suggests that this week's figure may combine the earlier raise with a newer Pre-A round rather than represent fresh capital.