Spiko closes $90M Series B led by NEA to grow tokenized cash funds
VC & Fundraising ·
The round pushes Spiko's total capital raised to $120 million and lifts assets under management to $2.7 billion.
Spiko, a tokenization company, announced a $90 million Series B round led by venture firm NEA, according to the company. The new capital is earmarked for expanding Spiko's tokenized cash fund products across multiple markets, extending a model that converts traditional cash-fund exposure into on-chain instruments.
With the raise, Spiko's cumulative funding reaches $120 million, and the company now reports $2.7 billion in assets under management, figures corroborated by The Block. Tokenized cash funds aim to give investors blockchain-based access to instruments typically found in money-market or short-duration cash products, letting holders transact and settle on-chain while the underlying assets remain tied to conventional cash-management strategies.
The deal fits a broader pattern of institutional money moving toward tokenization infrastructure. Venture investors have recently backed a range of projects bridging traditional finance and decentralized systems, including efforts to build financial-grade infrastructure for institutional users, as tracked in Leviathan's raises explainer. Spiko's expansion plan centers on scaling its existing cash fund offerings into more markets rather than introducing an entirely new product line, according to the reporting.
Three distinct sources have covered the raise, with consistent figures across the $90 million amount, the $120 million total funding, and the $2.7 billion AUM figure. What remains unspecified is which new markets Spiko intends to enter first, the precise timeline for deployment of the new capital, and whether additional investors beyond NEA participated in the round. Further detail on fund structure, regulatory approvals in target jurisdictions, and any changes to Spiko's existing product terms has not yet been disclosed.