Private Shares Fund Makes SpaceX Cornerstone of $1.1B Portfolio
Private Shares Fund, managed by investor Kevin Moss, has drawn significant interest from retail investors after making its stake in SpaceX a central pillar of its $1.1 billion portfolio. The fund allocated 13.68% of its assets, approximately $151 million, to SpaceX, making it the largest individual investment within the fund, surpassing holdings of prominent investors such as Cathie Wood.
This strategic allocation comes as several major private companies, including Discord, Kraken, and Motive Technologies, prepare for initial public offerings (IPOs). Moss’s approach aims to provide retail investors access to large-scale technology stocks before they go public.
The fund experienced a surge in inflows following SpaceX’s IPO announcements, with investment activity rising 201% above its annual average, reflecting the strong market appeal of Elon Musk’s ventures. Moss, who initially invested $10 million in SpaceX in 2019, noted that the stake has grown fifteenfold since then, highlighting the hands-on approach required to secure private equity positions of this scale.
Private Shares Fund also benefits from the ability to purchase shares directly from the company’s cap table, a rare feature among private funds, allowing close monitoring and control of its investments. The fund now prepares to test its valuations as these companies go public, providing a benchmark for the effectiveness of its pre-IPO investment strategy.