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Kaito Capital’s first Launchpad project, Espresso, is raising $4M at a $400M valuation.
Terms:
0% at TGE.
12-month cliff.
Full unlock over 24 months.
Hard to see the upside here. $60M already raised privately, and Series B valuation likely < $180M, yet retail is expected to buy in at $400M?
I’m skipping this one. Good luck if you’re jumping in.