TurboFlow, a Hong Kong-based onchain platform offering prediction markets and perpetual futures, has raised $6 million in a seed round led by Pantera Capital, with participation from Susquehanna Crypto and Digital Currency Group. The round closed in March as a simple agreement for future equity with token warrants. Founder Tony He, former co-founder and partner at Amber Group, declined to disclose valuation. The platform has been running its beta for over six months, claims more than 15,000 registered users, and reports $19 billion in trading volume to date. TurboFlow describes itself as the "Kalshi of APAC" and aims to serve Asian users with localized prediction markets alongside perpetual futures.
The capital allocation here signals institutional interest in exporting the prediction market playbook beyond Western markets. The round structure and participant mix — Pantera leading, Susquehanna bringing market-making expertise — suggests the thesis is that prediction markets remain underdeveloped in Asia relative to their Western traction. He stated that prediction markets are growing faster than perpetuals on TurboFlow despite perps being crypto's dominant product, which points to demand for new trading formats in the region. The platform's small-entry-size design ($2 minimum) and focus on event-driven markets mirrors the consumer-friendly approach that drove growth in the category, adapted for regional preferences. Susquehanna's participation also provides a direct liquidity backstop, addressing the cold-start problem for new derivative venues.
For traders, this matters as a directional indicator of where venture capital is flowing within crypto derivatives. If TurboFlow gains traction, it opens a second front for prediction market adoption outside established Western platforms and suggests the category is durable enough to support regional competitors. The involvement of established crypto VCs and a market-maker also indicates that liquidity providers see viable order flow in APAC event trading, which has not been proven at scale.
The specific thing to watch is whether TurboFlow announces market-maker partnerships or token-related developments in the next quarter. VC backing from firms of this profile can precede public token events, and a token would create a liquid instrument tied to prediction market adoption in Asia, turning this from a sector signal into a tradeable event.
Source: The Block