Raven Raises Series A Led by Coinbase Ventures to Expand Crypto Market-Making

Raven Secures Series A Funding Led by Coinbase Ventures

Raven, a proprietary trading firm and institutional market-maker, has raised a Series A round led by Coinbase Ventures. The round also included participation from CMCC Global. The funding date is September 29, 2026. The specific amount of the raise was not disclosed.

What Raven Does

Founded in 2023 by former Wintermute traders Petar Kostov and Yuriy Myronovych, Raven provides liquidity across a range of trading venues. Its market-making operations span centralized and decentralized crypto exchanges, prediction markets, and traditional venues. The firm quotes on platforms that include Kalshi and Polymarket, and reports more than 3,000 prediction-market contracts quoted.

Beyond its core market-making activities, Raven advises venues on market design and technical setup. It also provides opening liquidity at launch, helping new platforms establish initial trading activity.

Why It Matters

Raven's focus on prediction markets and its ability to quote across both crypto-native and traditional venues positions it at the intersection of several growing trading sectors. The backing from Coinbase Ventures and CMCC Global signals investor confidence in the firm's approach to institutional liquidity provision.

Acquisition Angle

For acquirers, Raven represents a specialized market-making operation with a founding team experienced at a leading crypto trading firm. Its multi-venue presence, including prediction markets, could be attractive to exchanges, brokers, or trading infrastructure providers looking to deepen liquidity or enter new market segments. The advisory and launch-liquidity services also offer a recurring, relationship-driven revenue stream that complements pure market-making.

Key Facts

• Company: Raven
• Founded: 2023
• Founders: Petar Kostov and Yuriy Myronovych, both ex-Wintermute traders
• Business: Proprietary trading and institutional market-making across centralized and decentralized crypto exchanges, prediction markets, and traditional venues
• Platforms quoted: Kalshi, Polymarket, among others
• Prediction-market contracts quoted: More than 3,000
• Additional services: Market design and technical setup advisory; opening liquidity at launch
• Round: Series A
• Lead investor: Coinbase Ventures
• Other investors: CMCC Global
• Funding date: September 29, 2026
• Amount: Not disclosed

Outlook

With fresh capital from Coinbase Ventures and CMCC Global, Raven is positioned to expand its market-making footprint and deepen its presence in prediction markets and other venues. The firm's combination of trading expertise and venue advisory services may make it a strategic target for larger trading or exchange groups seeking to enhance liquidity capabilities.