The Toloka.VC syndicate is considering an investment of more than $1 million in shares of the well-known AI project Cursor.
The Toloka.VC syndicate is considering an investment of more than $1 million in shares of the well-known AI project Cursor.
«This is a purchase of shares from previous investors, i.e. secondaries,» explained dev.ua co-founder and general partner of Toloka.VC Taras Kyrychenko. According to him, this will happen in April-May.
«We consider Cursor a startup. Many Ukrainians do not believe that a startup can be worth $45 billion. But we do,» emphasizes Kyrychenko.
According to his estimate, in 3-5 years, Cursor’s valuation should increase to $250-400 billion. «Roughly speaking, 5-10 times more, if you ask me,» he emphasized.
«They have fantastic growth. The company is not yet 4 years old (founded in 2022 — Ed.) and has grown from zero to $2 billion in revenue, hundreds of thousands of subscribers, and almost the entire Fortune 500 list as clients,» added another co-founder and general partner of Toloka.VC, Igor Shoifot.
It should be emphasized that Cursor reached $100 million in revenue in 2024 with zero marketing costs.
Taras Kyrychenko does not disclose the seller, but adds that Toloka.VC has exclusive access to this deal. According to the syndicate rules, each syndicate member has the opportunity to invest from $5,000 in this deal.
Partners believe Cursor could reach $7-18 billion in revenue in 2029-2030, and investors have high exit potential through an IPO.
Cursor has already attracted investment from major venture capital funds and IT companies, including Coatue, Thrive Capital and Andreessen Horowitz, as well as Alphabet Inc. (Google) and Nvidia Corp. The startup was launched by MIT graduates in 2022 with the goal of writing and debugging code more efficiently. Cursor AI is one of the fastest-growing startups of all time and a central player in the «vibe coding» era. The company has 7 million monthly active users, 50,000 enterprise customers and about 300 employees.
Toloka.VC is a Ukrainian venture capital syndicate founded in 2023 by Taras Kyrychenko, Igor Shoyfot, and Oleksandr Kolb. Toloka brings together over 2,000 investors. The syndicate has already made 25 standard strategy investments and 1 investment in 27 YC alumni for a total of over $30 million in fast-growing technology companies. Toloka.vc focuses on businesses with high scaling potential that are transforming their industries and have real prospects for an IPO or strategic sale.
