Former Kalshi employee Adhi Rajaprabhakaran and Noah Zingler-Sternig are raising $35 million for 5c© Capital — a fund specifically built to invest in prediction market startups. Notably, Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan are among the initial backers.
Other investors include Marc Andreessen through Moneta Luna, Ribbit Capital founder Micky Malka, former Multicoin managing partner Kyle Samani, along with Crypto Briefing — as well as a portfolio manager from Millennium Management and several founders in the prediction market space.
The fund’s name is inspired by a clause in the Commodity Exchange Act related to prediction markets. The founding team plans to invest in about 20 companies over the next two years, focusing on areas such as market makers, index design, data tools, liquidity providers, and compliance infrastructure.
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