Want to Invest in SpaceX or Stripe? There’s a Fund for That.
Summary
It is a problem that has vexed retail investors for years, as start-ups like Stripe, SpaceX and OpenAI soar to enormous valuations in the private market. It is offering a publicly traded fund that contains shares of 23 private tech companies including Stripe, SpaceX, OpenAI, Discord and Epic Games. The pandemic supercharged that trend as more people chased risk and growth by trying to invest small amounts in start-ups, while marketplaces like Forge and Augment sprang up to let investors buy and sell private tech stocks. To qualify someone as an accredited investor, the Securities and Exchange Commission requires a net worth of $1 million or an annual income of $200,000 for the past two years. The most valuable companies have held regular “tender offers” that allow employees to sell their shares, which is one way Destiny Tech100 buys stock.