Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Poolside closed a $500 million Series B in October 2024 at approximately $3 billion valuation.</li><li>Poolside announced Project Horizon, a 2 gigawatt AI campus in West Texas.</li><li>Poolside operates as a B2B enterprise software company selling AI coding automation to large organizations.</li></ul>

Poolside closed a $500 million Series B in October 2024 at approximately $3 billion valuation.Poolside announced Project Horizon, a 2 gigawatt AI campus in West Texas.Poolside operates as a B2B enterprise software company selling AI coding automation to large organizations.

Prime Intellect / Private Capital Markets

<ul><li>Prime Intellect closed a $15 million seed extension in February 2025, led by Founders Fund.</li><li>Prime Intellect operates as a three-layer platform that consolidates fragmented GPU resources into accessible AI training infrastructure.</li><li>In November 2025, Prime Intellect named Parasail and Nebius as inference providers for INTELLECT‑3.</li></ul>

Prime Intellect closed a $15 million seed extension in February 2025, led by Founders Fund.Prime Intellect operates as a three-layer platform that consolidates fragmented GPU resources into accessible AI training infrastructure.In November 2025, Prime Intellect named Parasail and Nebius as inference providers for INTELLECT‑3.

<ul><li>Sacra estimates that VAST Data hit $200 million in annual recurring revenue (ARR) in January 2025.</li><li>VAST Data is in talks to raise funding at a valuation of up to $30 billion from Alphabet&#39;s CapitalG and existing investor Nvidia.</li><li>The potential new funding round could close within weeks and would make VAST Data one of the most valuable private technology companies globally.</li></ul>

Sacra estimates that VAST Data hit $200 million in annual recurring revenue (ARR) in January 2025.VAST Data is in talks to raise funding at a valuation of up to $30 billion from Alphabet&#39;s CapitalG and existing investor Nvidia.The potential new funding round could close within weeks and would make VAST Data one of the most valuable private technology companies globally.

<ul><li>Voltage Park received $500 million in initial funding in October 2023 from Navigation Fund, the endowment founded by Stellar co-founder Jed McCaleb.</li><li>Voltage Park operates a dual-revenue model combining on-demand GPU rentals with longer-term dedicated capacity contracts.</li><li>The June 2025 launch of managed Kubernetes moves Voltage Park up the stack from raw infrastructure toward platform services.</li></ul>

Voltage Park received $500 million in initial funding in October 2023 from Navigation Fund, the endowment founded by Stellar co-founder Jed McCaleb.Voltage Park operates a dual-revenue model combining on-demand GPU rentals with longer-term dedicated capacity contracts.The June 2025 launch of managed Kubernetes moves Voltage Park up the stack from raw infrastructure toward platform services.

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>In its second quarter of 2025, CoreWeave showcased significant growth amid strong demand for AI cloud services.</li><li>The company's revenue soared by 207% year-over-year, reaching $1.2 billion, with an adjusted operating income of $200 million.</li><li>This marked the first instance of CoreWeave achieving both $1 billion in revenue and $200 million in operating income in a single quarter.</li></ul>

In its second quarter of 2025, CoreWeave showcased significant growth amid strong demand for AI cloud services.The company's revenue soared by 207% year-over-year, reaching $1.2 billion, with an adjusted operating income of $200 million.This marked the first instance of CoreWeave achieving both $1 billion in revenue and $200 million in operating income in a single quarter.

CoreWeave Lands $14.2 Billion Meta Deal — Is This The Tipping Point For AI Cloud Domination?

United States

CoreWeave, Inc. is a specialized cloud infrastructure company that provides high-performance computing resources optimized for workloads such as artificial intelligence, machine learning, visual effects, and batch processing. The company's CoreWeave Cloud Platform consists of proprietary software and cloud services that deliver the automation and efficiency needed to manage complex AI infrastructure at scale. Its platform supports the development and use of ground-breaking models and the delivery of the next generation of AI applications. CoreWeave operates a GPU-first architecture, optimized for training and inference of generative AI models, and also targets scientific and financial computing, as well as real-time 3D rendering needs. The company was founded in 2017 and is headquartered in Livingston, New Jersey.

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CoreWeave (CRWV US)

Primer: Poolside - 07 Dec 2025

Company developing advanced AI models to automate and improve coding processes for businesses

Sacra

Primer: Prime Intellect - 07 Dec 2025

Platform enabling users to find global compute resources, train state-of-the-art models through distributed training, and co-own resulting AI...

Sacra

Primer: VAST Data - 09 Nov 2025

Data platform unifying storage, compute, and database for large-scale AI workloads

Sacra

Primer: Voltage Park - 06 Oct 2025

Cloud-based AI infrastructure providing scalable, cost-effective GPU solutions for machine learning workloads

Sacra

CoreWeave Lands $14.2 Billion Meta Deal — Is This The Tipping Point For AI Cloud Domination?

In its second quarter of 2025, CoreWeave showcased significant growth amid strong demand for AI cloud services. The company's revenue soared by...

Baptista Research

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