Tiger Global, Dragoneer in talks to invest in Kalshi's new $1 billion fundraise
The fresh capital raise is expected to be finalised in the coming weeks and will value Kalshi at about $40 billion, the sources said, requesting anonymity as the discussions are confidential. It comes on the heels of a $1 billion fundraise in May that valued the firm at $22 billion.
Kalshi, the prediction markets exchange, is engaging in confidential talks for a significant $1 billion investment round, with potential participation from renowned investors such as Tiger Global Management and Dragoneer Investment Group. This fresh funding is anticipated to finalize in the forthcoming weeks, propelling Kalshi's valuation to approximately $40 billion, according to sources who requested anonymity.
The company, valued at $22 billion during a May 2022 fundraising round, has been spearheading its expansion beyond prediction markets, venturing into a broad spectrum of asset classes in competition with traditional exchange giants like CME Group and Intercontinental Exchange. Kalshi, co-led by Alfred Lin, a Sequoia Capital co-leader who is also a board member, has been actively seeking to solidify its market position following Polymarket's rival's struggles with US platform launch and CFTC investigation.
Sequoia Capital and Wellington Management are reportedly leading the current fundraising efforts, while Tiger Global's involvement remains undisclosed. The company, co-founded by MIT alumni Tarek Mansour and Luana Lopes Lara, is regulated by the Commodity Futures Trading Commission and has been exploring an initial public offering in the near future.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
