Tokenized Real Estate Platform Propolis Closes $78M Series B Led by a16z
The New York-based startup has quietly built the regulatory scaffolding to fractionalize commercial real estate at scale. The new round is aimed at distribution, not engineering.
Propolis, a tokenized real estate platform based in Manhattan, announced a $78 million Series B funding round on Thursday led by a16z crypto with participation from Haun Ventures, Pantera, and a major U.S. pension fund whose name was not disclosed in the announcement.
Propolis has spent the last two years obtaining transfer agent registrations, broker-dealer partnerships, and the specific exemptive relief needed to operate a compliant tokenization venue for commercial real estate. The round is earmarked almost entirely for distribution — not additional engineering.
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