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A new publicly traded fund, Destiny Tech100, has been launched, allowing individual investors to own shares in 23 private tech companies, including high-profile names like Stripe, SpaceX, OpenAI, and Discord. This initiative aims to meet the potential $875 million demand from regular public investors interested in owning stakes in private startups, with the current supply standing at about $54 million. However, investing in these companies comes with significant risk. The fund's ticker, $DXYZ, experienced a dramatic surge of over 500% since its launch but faced a sharp 40% decline recently.
LISTEN NOW: There's a new fund that now allows retail investors to get in on the hottest tech startups, including Stripe, OpenAI and SpaceX. But it comes with some risk. Listen and follow the @CNBCTechCheck podcast here: https://t.co/GkIlXbLjJr https://t.co/aEUT2yjZrp
There's a new fund that now allows retail investors to get in on the hottest tech startups, including Stripe, OpenAI and SpaceX. But it comes with some risk. $DXYZ has soared 500%+ since its launch but is tanking 40% today. @KR00ney breaks down the risks and the rewards https://t.co/CI43Q2mCJR
Want to Invest in SpaceX or Stripe? There’s a Fund for That. https://t.co/bnTFPFhdOA