This Week in Startups
This Week in Startups
Jason Calacanis covers startups, tech, markets, media, and all the hottest topics in business and technology. He also interviews the world’s greatest founders, operators, investors, and innovators.
Jason Calacanis

Destiny (D/XYZ) and the Buzz Around Public Access to Private Companies | E1933

E1933 • Apr 17, 2024 • 44 mins

Sohail Prasad joins Jason to discuss Destiny Tech 100 and why it was created, comparing the market cap to the actual holdings and the pent-up demand, how Destiny acquires the shares and how they manage both positive and negative reactions, and more!

Key Points

  • The Destiny Tech 100 fund, created by Sohal Prasad, seeks to offer public investors access to private tech companies through a listed closed-end fund, allowing investment in companies like SpaceX and others that are shaping the future across industries.
  • Despite the complex regulatory process and the choice to operate with a lower reward structure (2.5% management fee, no carry), Prasad's motivation for establishing the fund was driven by the desire to create a vehicle that would allow anyone with a brokerage account to invest in high-growth, private technology companies.
  • The fund acquires shares through various methods including participation in primary rounds, secondary purchases from founders or early employees, direct transactions with VCs, and secondary marketplaces, aiming for best execution for the fund and end investors.
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