ByteDance to Sell Shares at a $480 Billion Valuation

ByteDance has seen a major secondary transaction in which Capital Today acquired a substantial block of shares at a valuation of $480 billion, significantly above recent levels and reflecting strong investor demand. The auction drew intense bidding, highlighting continued confidence in ByteDance’s global content, advertising, and AI capabilities. The sale follows employee and institutional buyback programmes conducted at lower valuations earlier this year. ByteDance remains a key player in geopolitical discussions around TikTok’s US ownership. ByteDance is an underlying asset of VenCap 6, VenCap 10A, VenCap 11A, VenCap 12, VenCap 13A, VenCap 13B, VenCap 15, VenCap 16, VenCap 17.

xAI Plans to Raise $15 Billion at a $230 Billion Valuation  
xAI is seeking to raise $15 billion at a proposed $230 billion valuation, more than doubling its prior valuation from a transaction involving X earlier this year. The company continues to compete with leading AI labs by securing capital for compute-intensive model development. It also announced an agreement with Humain to build low-cost data centres in Saudi Arabia, supporting its expansion. These developments underscore xAI’s ambition to scale rapidly in frontier AI. xAI is an underlying asset of VenCap 16, VenCap 17.

Databricks in Talks to Raise Capital at a Valuation Above $130 Billion

Databricks is in discussions to raise new capital at a valuation exceeding $130 billion, potentially representing a 30% uplift on its previous round just two months ago. The company may use additional capital for acquisitions, research hiring, and to maintain its competitive edge over Snowflake. Databricks’ AI and data tooling remains central to enterprise cloud and machine-learning workflows. A term sheet has not yet been signed. Databricks is an underlying asset of VenCap 6, VenCap 12, VenCap 13B, VenCap 15, VenCap 16, VenCap 17, VenCap 18.

Vinted Considering Share Sale at an Estimated €8 Billion Valuation
Vinted is in early-stage discussions regarding a secondary share sale that could value the business at roughly €8 billion. The transaction would allow early investors to partially exit while reflecting the company’s strong growth trajectory, including expected 40% revenue growth this year and continued expansion into new product categories. Vinted is also testing cross-border trading to support a potential move into the US market. The company has hinted an IPO may be considered in the future. Vinted is an underlying asset of VenCap 6, VenCap 12, VenCap 13B, VenCap 15, VenCap 16, VenCap 17.

Chronosphere to Be Acquired by Palo Alto Networks for $3.35 Billion

Palo Alto Networks has agreed to acquire Chronosphere for $3.35 billion to integrate the company’s next-generation observability platform with its own AI-driven security products. The acquisition aims to combine observability and autonomous remediation capabilities by leveraging Chronosphere’s scalable telemetry architecture. Chronosphere reports over $160 million in ARR with triple-digit year-on-year growth. The deal is expected to close in the second half of fiscal 2026 subject to regulatory approvals. Chronosphere is an underlying asset of VenCap 6, VenCap 13B, VenCap 15, VenCap 16, VenCap 17.

Faire Launches Share Sale at a $5.2 Billion Valuation

Faire has initiated a tender offer enabling employees to sell shares at a $5.2 billion valuation, its first external valuation since its internal 2023 reset. The company generates more than $500 million in annualised revenue and is approaching breakeven profitability, with GMV expected to reach nearly $3 billion. The process is intended to attract new long-term investors and position the company for a future IPO. Faire is an underlying asset of VenCap 6, VenCap 10A, VenCap 13A, VenCap 13B, VenCap 15, VenCap 16, VenCap 17.

Blockchain.com Plans US IPO Following Strong Revenue Growth

Blockchain.com is preparing for a potential US listing next year after appointing a co-CEO and making senior hires to support its capital-markets strategy. The company reported more than $5 billion in 2024 revenue and expects substantial growth this year, driven primarily by institutional brokerage and blockchain market services. Its 39 million verified users continue to expand in the US and emerging markets. Blockchain.com is an underlying asset of VenCap 6, VenCap 10A, VenCap 11A, VenCap 13A, VenCap 16.

Sakana AI Raises $135 Million at a $2.5 Billion Pre-Money Valuation
Sakana AI has closed a $135 million funding round at a $2.5 billion pre-money valuation. The Tokyo-based model developer continues to expand its regionally specialised AI offerings, with growing traction among Japan’s major financial institutions. The round featured a mix of new global investors and existing backers. Sakana remains one of Asia’s most prominent challengers in culturally-localised AI. Sakana AI is an underlying asset of VenCap 16, VenCap 17.