""With the pool of capital in private markets, the best companies are not choosing to go public," Powerlaw investor and Jazz Venture Partners managing partner John Spinale told Bloomberg. "This robs the public the ability to access the high-growth firms." Powerlaw will act as the intermediary and charge shareholders a 2.5 percent management fee. The fund is planning for a direct listing, meaning that it will sell existing shares by current stockholders, unlike an IPO, which involves selling new shares to raise capital."
""Our investment objective is long-term capital appreciation," the regulatory filing reads. "We seek to achieve our investment objective by investing in a concentrated portfolio of approximately 15 late-stage technology companies." Powerlaw's portfolio includes six AI companies, including xAI, Perplexity, OpenAI, and Anthropic, as well as predictions market platform Kalshi, and even Palmer Luckey's defense contractor Anduril. "The fund reflects [parent company] Akkadian's mission to democratize access to Silicon Valley's premier technology investments," the filing reads."
SpaceX merged with xAI and is positioned for a potential $1.25 trillion IPO but remains private and largely inaccessible to everyday investors. Powerlaw Corp, a $1.2 billion fund that holds stakes in SpaceX, OpenAI, Anthropic and other late-stage firms, is offering retail traders the chance to buy into its holdings. Powerlaw plans a direct listing to sell existing shares, will act as intermediary with a 2.5 percent management fee, and requires SEC approval. The fund targets long-term capital appreciation through a concentrated portfolio of about 15 late-stage technology companies, including six AI firms, Kalshi, and Anduril. Shareholders may face timing and liquidity risks based on the fund's structure.
Read at Futurism
Unable to calculate read time
Collection
[
|
...
]