BUZZ-SpaceX, OpenAI investor Destiny Tech100 fund hits $1 bln in market value

Reuters04-09

** Shares of close-ended fund Destiny Tech100 Inc 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))

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