A venture capital fund founded by two early former employees of Kalshi, 5c© Capital, is raising $35 million in its initial funding. The fund was co-founded by Kalshi’s early core member Adhi Rajaprabhakaran and former COO Noah Zingler-Sternig. The name “5c©” is derived from U.S. commodity and derivatives regulation, symbolizing the gradual integration of prediction markets into the financial regulatory system.
Notably, Kalshi CEO Tarek Mansour, Polymarket CEO Shayne Coplan, and a16z founder Marc Andreessen are also investors.
“5c©” derived from regulation, symbolizing prediction markets entering regulation
Fortune reports that the fund was co-founded by Kalshi’s early core member Adhi Rajaprabhakaran and former COO Noah Zingler-Sternig. The name “5c©” comes from U.S. commodity and derivatives regulation, representing the ongoing inclusion of prediction markets into the financial oversight framework. The company is raising an initial $38 million. It is understood that the fund will focus on investing in infrastructure related to prediction markets, including market makers, index design, and other key application layer services.
Polymarket, Kalshi CEOs, and a16z founder are all investors
Interestingly, Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan are also early investors in the fund, indicating a growing industry consensus on “prediction market infrastructure.”
In addition to the founders of these two major platforms, 5c© Capital has attracted support from several prominent venture capitalists, including Marc Andreessen of a16z (via Moneta Luna fund), Micky Malka of Ribbit Capital, and former Multicoin Capital partner Kyle Samani, making the lineup quite impressive.
5c© Capital views prediction markets as a “generation-level investment opportunity”
Fortune notes that in its fundraising documents, 5c© Capital still considers prediction markets a “generation-level investment opportunity.” The fund plans to invest in about 20 startups over the next two years, betting on the development of infrastructure in this emerging market, aiming to establish key nodes early in the industry’s formation.
However, prediction markets still face many challenges recently, including investigations into insider trading. Additionally, U.S. Congress members are proposing to ban sports betting predictions. Polymarket recently partnered with MLB, and Kalshi has received investment from NBA star Giannis Antetokounmpo.
This article about two early Kalshi core members founding 5c© Capital, with two major prediction market CEOs and a16z founder participating as investors, first appeared on Chain News ABMedia.
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