Kalshi in Final Talks to Raise About 157 Billion Yen, Valuation Could Reach 40 Billion Dollars

Reuters··US·Read original
3▲0 ▼0Impact / 5
Summary · why it matters

Kalshi, a U.S. prediction market, is in final-stage talks with investors to raise about 1 billion dollars, or roughly 157 billion yen, in new funding, Reuters reported on September 29, citing people familiar with the matter. According to the report, Tiger Global Management and Dragoneer Investment Group are in talks to invest, while existing investors Sequoia Capital and Wellington Management are negotiating to lead the round. The fundraising is expected to close within the next few weeks, and if completed, Kalshi's valuation could reach about 40 billion dollars. Kalshi also raised 1 billion dollars in May in a Series F led by Coatue, at a valuation of 22 billion dollars at the time, so if the 40 billion dollar figure materializes, its valuation would rise about 82 percent in roughly five months. The company has expanded its business mainly around event contracts for sports, elections and other events, but it now aims to develop into a comprehensive trading platform handling a broad range of asset classes, and according to Reuters it is also in early-stage talks about a possible initial public offering within the next few years.

Off-coverage companies 5

KalshiPrivate▲ Positive
Capitalrelevance

Kalshi is in final talks to raise ~$1B at a valuation that could reach ~$40B, up ~82% in five months.

Dragoneer Investment GroupPrivate▲ Positive
Capitalrelevance

Tiger Global and Dragoneer are in talks to invest in Kalshi's ~$1B round, a direct capital event for Dragoneer.

Sequoia CapitalPrivate▲ Positive
Capitalrelevance

Existing investor Sequoia is negotiating to lead Kalshi's new ~$1B funding round.

Wellington Management CompanyPrivate▲ Positive
Capitalrelevance

Existing investor Wellington is negotiating to lead Kalshi's new ~$1B funding round.

Coatue Management, LLCPrivate± Mixed
Capitalrelevance

Coatue is only cited as the prior Series F lead, not part of the new round.

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