Prenetics' IM8 closes $1 billion growth financing from General Catalyst's CVF

Prenetics Global Limited announced on July 14, 2026 the closing of $1 billion in growth financing from General Catalyst's Customer Value Fund for its supplement brand IM8.¹

Under the arrangement, General Catalyst's Customer Value Fund will finance up to 70% of IM8's marketing spend, with IM8 retaining full discretion over facility utilization.¹ In exchange, General Catalyst will receive a capped share of income linked to the performance of the customer cohorts it finances, with the cap set at predetermined levels.¹ Once that cap is reached for a given monthly cohort, any further value generated by those customers goes entirely and permanently to IM8.¹ The company said no equity, warrants, or convertible instruments are being issued to General Catalyst, and the arrangement is tracked separately by monthly customer cohort.¹

Prenetics said it entered the deal from a position of financial strength, citing roughly $139.7 million combined in estimated cash, short-term financial assets carried at fair value, and cash held in escrow and holdback as of May 31, 2026, along with the $40 million share buyback program it announced earlier in 2026.¹

On accounting treatment, the company said it will record the arrangement as a financial liability on its balance sheet, with the return component booked as interest expense below operating income, so the deal adds no new operating expense and does not affect gross margin.¹ All marketing spend will still be recorded as sales and marketing expense.¹

Alongside the financing, Prenetics raised its full-year 2026 IM8 revenue guidance to $210–220 million, up from $190–210 million, marking its second guidance increase this year.¹ The company said IM8 is expected to reach $300 million in annualized run-rate revenue by year-end 2026 and to deliver more than $400 million in full-year 2027 revenue.¹