City Protocol has closed $11 million in seed and Pre-A funding, with backing from Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse, and Mirana. The company builds integrated infrastructure for onchain structured products — tokenization, vaults, and issuance operations — and its flagship platform Venzo is already running four strategy vaults with $30 million in total value locked.
What City Protocol actually does
At its core, City Protocol sells reusable modules: Tokenization, Vault, and Issuance & Operation. Those three pieces let partners spin up structured products without reinventing the plumbing. Security is handled through multi-signature permissions, fee rules written directly into smart contracts, and immutable onchain records — the kind of guardrails that matter when you're managing other people's money.
Venzo, the flagship, is live today. It's an onchain structured products platform with two vault types: Strategy Vaults and the upcoming Thematic Portfolios. The live strategy vaults cover quantitative hedging, cross-exchange arbitrage, private credit, and onchain yield strategies. There's also an SDK and portfolio data interfaces so outside teams can integrate Venzo's vault products into their own apps.
The Venzo user base is already building
That infrastructure is seeing real use. Venzo is running its first Polis Points season, and the City Protocol ecosystem counts more than 51,000 verified City ID users and 9,400+ NFT holders. The company says a second Polis Points season is planned after the current one wraps up.
The next product line is Thematic Portfolios — a non-custodial offering that will include People Trackers and Sector Themes. The company hasn't given a specific launch date, but the timing suggests it's close.
Who's paying attention
The investor list reads like a who's who of crypto-native funds — Dragonfly, Jump Crypto, and CMT Digital have all been around long enough to be picky. Add Stratified Capital, Adaverse, and Mirana, and you have a round that covers both institutional and regional players. The $30 million TVL in Venzo's vaults gives them something concrete to point to.
City Protocol's stated vision is to open the door of financial choice to more people — a broad goal, but the actual product suite is quite specific. The focus on structured products, not just yield farming, is the differentiating bit.
Next up: the second Polis Points season and the Thematic Portfolios launch. Those will show whether the platform can move beyond its initial base and into a broader market.
