TLDR: Want to Invest in SpaceX or Stripe? There’s a Fund for That.
Key Points:
- A new fund called Destiny Tech100 allows individual investors to own shares of private tech companies like Stripe, SpaceX, OpenAI, Discord, and Epic Games.
- Previously, it was difficult for retail investors to invest in privately held tech start-ups.
In a recent article by Erin Griffith reporting from San Francisco on April 5, 2024, it was highlighted that a fund called Destiny Tech100 is changing the game for individual investors who want to own a piece of the technology industry’s top private companies. Historically, it has been challenging for retail investors to invest in companies like Stripe, SpaceX, and OpenAI which have soared in valuations in the private market.
Only accredited investors with high net worth were previously allowed to invest in private tech start-ups, leaving retail investors at a disadvantage. With the launch of Destiny Tech100, individual investors now have the opportunity to own shares in 23 private tech companies, with plans to expand holdings to 100 start-ups in the future.
Sohail Prasad, the CEO of Destiny XYZ, the parent company of the fund, expressed his goal of democratizing ownership of top private tech companies. The fund began trading on the New York Stock Exchange, allowing tens of thousands of individual investors to become shareholders in these companies.
By making it easier for retail investors to access shares of private tech companies, Destiny Tech100 is paving the way for more diverse investment opportunities in the technology industry.
