Frequently Asked Questions
What is D/XYZ?
D/XYZ (pronounced Destiny) is the creator of a family of exchange-traded products that will provide public investment access to private market technology companies. Its first product, the Destiny Tech100, will be a portfolio of the top 100 venture-backed private technology companies.
D/XYZ was founded in 2020 by Sohail Prasad and Samvit Ramadurgam on the heels of their success founding Forge, a global private securities marketplace that provides trading, custody, and data infrastructure to meet the needs of high-growth unicorn companies, employees, and investors.
What is the problem D/XYZ seeks to solve?
World-changing innovation is happening in the private technology market today. Yet, for the everyday individual investor, access to these once-in-a-generation opportunities has been placed out of reach.
Until now, only institutions and insiders have had access to the best private deals. By providing public access to the private market, D/XYZ will break the pervasive class divisions and inequality that prevent those who are not Silicon Valley titans from participating in the growth and success of the private tech companies that are shaping our collective future.
Today, companies deploy technology at scale in hopes of “democratizing” all asset classes. But “access” to new opportunities alone does not level the playing field, especially in the private markets where the top deals / companies / opportunities drive the majority of returns.
That’s why D/XYZ is not just about enabling access. It is focused on creating a new generation of owners — enabling everyone to benefit from a sophisticated, diversified, liquid approach to ownership of the top venture-backed technology companies.
Beyond that, D/XYZ is more than an investment – D/XYZ is a movement to open the doors of private tech investing to the rest of the world and challenges the distinction between private and public markets
When and by whom was D/XYZ founded?
D/XYZ was founded in 2020 by Sohail Prasad and Samvit Ramadurgam on the heels of their success in founding Forge, a global private securities marketplace building trading, custody, and data infrastructure to meet the needs of high-growth unicorn companies, employees, and investors.
Today, Forge facilitates the exchange of billions of dollars in pre-IPO stock annually, has over $14B in assets under custody, and has raised over $250M in financing from key institutional partners, including Deutsche Börse, Temasek, Wells Fargo, BNP Paribas, and Munich Re.
Forge is projected to have over $120M of revenue in 2021. Forge recently announced that it will be going public in a $2B merger with special-purpose acquisition company Motive Capital Corp (NYSE:MOTV), becoming the first dedicated trading platform for private shares to become a public company (press release HERE).
Who is supporting the Destiny Tech100?
Early backers of the Tech100 include the founders of Dropbox and Coinbase; current and former Partners at Sequoia Capital, Greylock Partners, and Y Combinator; and cultural icons such as Nas, Keisuke Honda, and Heather Hasson.
To support its vision of redefining private market access, D/XYZ is working with mission-aligned investors in the Destiny Tech100. These investors include the founders and CEOs of leading future-forward companies such as Plaid, Quora, FIGS, Caviar, Mercury, Superhuman, Screenhero, Runway, Mux, Truepill, Human Interest, Clever, Augur, Chartboost, NerdWallet, and SandboxVR; current and former Partners at Kleiner Perkins, Pantera Capital, Paradigm, Riverwood Capital, Streamlined Ventures, and Better Tomorrow Ventures; early employees and executives at marquee tech companies counting Google, Stripe, Facebook, Snap, and Apple; and a diverse set of figures across competencies, from law firms such as Wilson Sonsini and Gunderson to sports and entertainment figures such as Gunna and Prohgress of Far East Movement.
Only institutions and insiders have had the access to the best private market deals.
But for the everyday investor, access to these once in a lifetime investment opportunities are far out of reach.
Today, the private market is a rapidly growing $3 trillion dollar asset class however, the opportunity to be a part of this growth remains private, only available to a select few who have access.
Today, companies are staying private longer than ever before and achieving incredible growth, growth that would traditionally benefit all in a public market.
Over the last two years, Pre-IPO investors experienced returns of more than 1000%. The everyday investor, however, has no option but to wait for the IPO.