A new filing with the SEC reveals substantial pricing adjustments in Ripple‘s private market shares before the end of 2025. Megacorn Fund LP initially held 2,704 Ripple shares at a cost of $229,840, which were projected to increase to a fair value of $373,179 by December 31, 2025. This represents an unrealized gain of approximately $143,339, translating to a growth rate of about 62.4%.
Why the Significant Rise?
The increase underscores an impressive valuation jump, with the fund acquiring Ripple shares on April 16, 2024, and projecting each share to be valued at $138.01 by the end of 2025. This stake constitutes roughly 2.75% of the fund’s total equity base. Megacorn Fund LP is recognized for investing in fintech and software-focused private companies, while Ripple is renowned for developing cross-border payment and blockchain solutions.
Megacorn Fund LP’s SEC filing showed Ripple shares rising from a $229,840 cost to a $373,179 valuation by the end of 2025.
Unlike XRP, the appreciation stems from the company shares themselves, reflecting Ripple’s direct corporate valuation rather than the cryptocurrency’s price changes.
Ripple vs. Other Private Firms?
In the same filing, valuations of other private companies in the fund’s portfolio were also listed. Kraken’s value rose from a cost of $168,683 to $276,282. Databricks surged from $999,900 to roughly $1.29 million, and Mercury increased from $150,012 to $161,124. Perplexity marked a more modest rise from $500,000 to $511,436. Ripple emerged as one of the strongest performers with a nearly 62% increase.
This valuation boost followed Ripple’s strategic $500 million investment round in November 2025, anchored by a $40 billion valuation. Leading the funding were Fortress Investment Group and Citadel Securities–related funds, with participation from Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
The $500 million strategic investment was announced after a separate $1 billion stake purchase offer at the same $40 billion valuation.
The revaluation hints at institutional investors ascribing substantial worth to Ripple in private markets. Nonetheless, significant valuation disparities can arise across various funds and secondary market platforms for private firm shares. Thus, the filing does not provide a definitive current market valuation for Ripple.
The Distinction Between Ripple Shares and XRP
The disclosed figures pertain to Ripple’s company shares, whereas XRP operates as a standalone digital asset. Consequently, it’s crucial to separately evaluate the share value increase and XRP’s price movements, as they represent distinct entities in the financial ecosystem.
