Former Kalshi Insiders Launch 5c(c) Capital to Invest in Prediction-Market Infrastructure

Prediction markets allow traders to express probabilities through event contracts, but their development into an institutional-grade asset class still depends on liquidity, pricing, data and compliance tools. 5c(c) Capital was founded by early Kalshi team member Adhi Rajaprabhakaran and former operations chief Noah Zingler-Sternig. It is targeting cross-platform infrastructure to mitigate platform concentration and regulatory risks.

On March 23, 2026, 5c(c) Capital disclosed that it had raised $38 million for its debut fund. It plans to invest in about 20 companies over the next two years, spanning market makers, event-index design, data and trading tools. Backers include Polymarket CEO Shayne Coplan, Kalshi CEO Tarek Mansour and a16z co-founder Marc Andreessen.