Coinbase Ventures and CMCC Global fund Raven at $90M valuation

Raven, a high-frequency trading firm that provides liquidity to crypto prediction markets, has secured funding from Coinbase Ventures and CMCC Global at a valuation of roughly $90M. That’s a nearly 4x jump from the $25M valuation the company carried during its seed round just a couple of years ago. From Wintermute alumni to standalone player Raven was co-founded by Petar Kostov, Yuriy Myronovych, and Ivaylo Kirilov, all former employees of Wintermute, one of crypto’s most prominent algorithmic trading and market-making operations. The company closed an initial seed round of approximately $2.7M to $3M at a $25M valuation, with Hack VC leading the round and Wintermute Ventures among the participants. Since then, Raven has expanded to provide liquidity across more than 30 trading venues. That roster includes major centralized exchanges like Binance, Coinbase, and OKX, alongside decentralized platforms and prediction markets such as Polymarket, Kalshi, and Gemini Predictions. Why prediction markets matter to market makers Raven’s pitch is that it can bring exchange-level liquidity depth to prediction markets through proprietary algorithmic strategies designed for tight spreads and high...