Kalshi's early employees plan to raise $35 million to establish a venture capital fund focused on prediction markets.

Early employees of the prediction market platform Kalshi are launching a venture capital fund called 5c(c) Capital, aiming to raise up to $35 million, focusing on investing in the prediction market sector. The fund's partners are Adhi Rajaprabhakaran, a former early trader at a Kalshi-affiliated market maker, and Noah Zingler-Sternig, former head of operations at Kalshi. Confirmed investors include Kalshi CEO Tarek Mansour, Polymarket CEO Shayne Coplan, Marc Andreessen (through Moneta Luna), Ribbit Capital founder Micky Malka, and former Multicoin Capital managing partner Kyle Samani. The fund plans to invest in approximately 20 companies over the next two years, covering infrastructure areas such as prediction market makers and index design.