Do you want to invest in SpaceX or Stripe? There is a fund for this.
Stripe, a payments startup, is one of the most successful companies to come out of Silicon Valley in a generation. Last year, its valuation reached $65 billion. But in the 15 years since its creation, most individuals have not had the opportunity to invest in it.
It's a problem that upsets retail investors for years. , as start-ups like Stripe, SpaceX and OpenAI achieve huge valuations in the private market. Only so-called accredited investors with high net worth are allowed to invest in private technology start-ups. By the time companies go public, a decade or more after their founding, their growth has often slowed and their valuations are high.
A new fund, Destiny Tech100, try to change this with a new solution. It offers an exchange-traded fund containing shares of 23 private technology companies, including Stripe, SpaceX, OpenAI, Discord and Epic Games. The fund, which began trading on the New York Stock Exchange last week, plans to expand its holdings to include shares in 100 start-ups.
Sohail Prasad, the chief executive of Destiny XYZ, the fund's parent company, said its goal was to make it possible for anyone to own a piece of the tech industry's largest private companies.
“We have tens of thousands of individual investors who are now shareholders in these companies,” he said.
Sohail Prasad, founder and chief executive of Destiny XYZ, said his goal is to make it possible for anyone to own a piece of the largest private companies in the tech industry. Credit... Sarah Blesener for the New York TimesWe are having difficulty retrieving the content of the article.
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Stripe, a payments startup, is one of the most successful companies to come out of Silicon Valley in a generation. Last year, its valuation reached $65 billion. But in the 15 years since its creation, most individuals have not had the opportunity to invest in it.
It's a problem that upsets retail investors for years. , as start-ups like Stripe, SpaceX and OpenAI achieve huge valuations in the private market. Only so-called accredited investors with high net worth are allowed to invest in private technology start-ups. By the time companies go public, a decade or more after their founding, their growth has often slowed and their valuations are high.
A new fund, Destiny Tech100, try to change this with a new solution. It offers an exchange-traded fund containing shares of 23 private technology companies, including Stripe, SpaceX, OpenAI, Discord and Epic Games. The fund, which began trading on the New York Stock Exchange last week, plans to expand its holdings to include shares in 100 start-ups.
Sohail Prasad, the chief executive of Destiny XYZ, the fund's parent company, said its goal was to make it possible for anyone to own a piece of the tech industry's largest private companies.
“We have tens of thousands of individual investors who are now shareholders in these companies,” he said.
Sohail Prasad, founder and chief executive of Destiny XYZ, said his goal is to make it possible for anyone to own a piece of the largest private companies in the tech industry. Credit... Sarah Blesener for the New York TimesWe are having difficulty retrieving the content of the article.
Please enable JavaScript in your browser settings.
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