NewGen lifts K25.ai stake to 10% as pre-A closes at $100m valuation
NewGenIVF Group (Nasdaq: NIVF), a Bangkok-based diversified growth company, has completed a cumulative US$10 million pre-A round investment in K25.ai, an AI-native livestreaming and prediction-market platform targeting Asia-Pacific. The final US$4 million tranche, announced on 18 June 2026, closes the pre-A at a US$100 million post-money valuation and brings NewGen's expected aggregate ownership stake to 10%. K25.ai has simultaneously launched a Series A fundraise, which the company says will price at a step-up to the pre-A valuation.
The investment was made in three tranches: an initial US$2 million in May 2026, a further US$4 million on 4 June 2026, and the concluding US$4 million announced this week. NewGen also holds exclusive Asia-Pacific agency rights, giving it a commercial distribution role alongside its equity position. The company intends to file a Form 6-K with the US Securities and Exchange Commission disclosing full transaction details.
What K25.ai is building
K25.ai describes itself as "Twitch × Polymarket × ChatGPT," a positioning that combines creator-led livestreaming, AI-assisted event-market creation and resolution, and interactive watch-to-predict participation. The platform is purpose-built for sports, esports, and entertainment events across Asia-Pacific. It has not yet launched commercially and is pursuing applicable regulatory licences in selected Asian markets before doing so.
Andy Cheung, founder and chief executive of K25.ai, said the pre-A close "marks a defining milestone for K25.ai and provides strong strategic validation for our vision of building Asia-Pacific's next-generation AI-powered information market." The company confirmed it is raising the Series A to fund product launch, regulatory licensing, and expansion of its creator and partner ecosystem.
Market context and regulatory risk
The category K25.ai is entering sits at an uncomfortable regulatory intersection. Prediction markets, sometimes categorised as information markets, face varied legal treatment across Asia. Several jurisdictions in the region restrict or prohibit such activities outright, and the company's own materials note it will not offer services where they are restricted or prohibited. Securing licences jurisdiction by jurisdiction is likely to be a slow and uncertain process, and it represents the single most significant execution risk for investors alongside the Series A.
The broader AI-native creator-economy space is active but crowded, with incumbents including Twitch (Amazon) and a growing field of Asian short-video and livestreaming platforms. Polymarket, the US-based prediction market the positioning references, itself operates under evolving regulatory scrutiny. K25.ai's differentiation claim rests on the native integration of AI-assisted market creation, which could reduce the friction of launching and resolving event markets at scale, but the platform has published no benchmarks or user metrics to support that claim.
NewGen's corporate profile is also worth noting. Despite the "technology-driven" framing in this release, the parent company's existing operations span IVF clinics, real-estate development in Ras Al Khaimah, and digital-asset and decentralised-finance products. The K25.ai investment represents a further diversification rather than a deepening of an established technology franchise, and the pre-A valuation of US$100 million has not been set by an independent third party. The company's Series A marketing materials will be the first real test of broader investor appetite for the platform thesis.