City Protocol, which builds infrastructure for on-chain structured products, has completed a combined $11 million seed and pre-Series A funding round. Investors included Dragonfly, Jump Crypto, CMT Digital, Stratified Capital, Adaverse and Mirana. Its Venzo platform operates four strategy vaults with $40 million in total value locked, offering institutional-style approaches including quantitative hedging, cross-exchange arbitrage and private credit. City Protocol is also preparing thematic vaults that will use programmed rules to buy and adjust baskets of assets directly in users’ wallets, with categories focused on tracking people and sectors.