SpaceX, OpenAI investor Destiny Tech100 fund hits $1 bln in market value
09/04/2024 10:56
** Shares of close-ended fund Destiny Tech100 Inc DXYZ.P
that invests in privately owned tech firms jump 18% to $117.50
premarket
** The fund surged 68.5% on Monday and ended at a market
value of $1 bln compared to $52.6 mln net asset value of its
investments as of Dec. 31. 2023
** Its parent investment firm Destiny XYZ has currently
invested in 23 startups including SpaceX, Epic Games, OpenAI and
Instacart and it targets to expand its portfolio to 100
privately owned tech companies
** DXYZ was trending No. 1 on retail traders-focused social
media platform stocktwits.com
** The fund closed at $99.79 on Monday after opening at
$8.25 two weeks ago
(Reporting by Medha Singh)
((medha.singh@thomsonreuters.com))