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Destiny Tech100 (NYSE: DXYZ) has announced a net asset value (NAV) of $5.07 per share for Q1 2024, up from $4.84 per share at the end of 2023. The fund holds positions in 23 privately-held companies with an aggregate fair value of approximately $51.7 million. No new investments were made during Q1 2024.
Positive
- Net asset value (NAV) increased to $5.07 per share from $4.84 at the end of 2023.
- Aggregate fair value of portfolio companies stands at approximately $51.7 million.
Negative
- No new investments were made between January 1, 2024, and March 31, 2024.
The report from Destiny Tech100 Inc. highlights an increase in their net asset value (NAV) from $4.84 to $5.07 per share over the first quarter of 2024. This growth in NAV, approximately 4.8%, is a positive indicator of the company’s performance and asset appreciation. The fact that the company held positions in 23 privately held portfolio companies, with a total value of $51.7M, is notable. However, it’s worth mentioning that no new investments were made during this period, which could signal a cautious or strategic approach by management.
Short-term impact: The growth in NAV will likely be seen as a positive by current investors, potentially leading to a slight uptick in stock prices. Confidence in the management’s investment decisions might be bolstered by the steady increase in asset value.
Long-term impact: The absence of new investments could be a double-edged sword. On one hand, it may reflect a prudent strategy to avoid overextending. On the other hand, it might raise questions regarding the fund’s future growth prospects. Investors should closely watch the company’s future investment activities and performance of their existing portfolio.
Context: NAV is a important metric for funds, representing the value of assets minus liabilities. An increase indicates effective management and potentially increased returns for investors. It’s important to compare this growth with industry norms and competitors to fully gauge performance.
Expert rating: Given the positive NAV growth but tempered by the lack of new investments, I would rate this news as neutral to slightly positive.
NEW YORK–(BUSINESS WIRE)– Destiny Tech100 Inc. (NYSE: DXYZ) today reported that its net asset value (“NAV”) for the quarter ended March 31, 2024 totaled $5.07 per share of common stock, as compared to $4.84 per share as of December 31, 2023.
As of March 31, 2024, Destiny Tech100 held positions in 23 portfolio companies – all privately held – for an aggregate fair value of approximately $51.7M, excluding short-term treasuries. The fund did not make investments in any new companies between January 1, 2024 and March 31, 2024.
Additional Information
For more information about the Tech100 fund, Destiny XYZ Inc., the Fund’s parent company, has made extensive resources available on its website. Prospective investors and the general public are encouraged to visit www.destiny.xyz/tech100 (in the Literature section) to receive the Fund’s most recent annual report, Schedule of Investments as of and for the period ended March 31, 2024, and other important information.
About Destiny Tech100
Destiny Tech100 (“DXYZ” and “Tech100”), is a publicly-listed registered closed-end fund that intends to invest in a portfolio of 100 of the top venture-backed private technology companies, providing everyday investors access to many of the world’s most exciting private businesses.
Destiny Tech100 Inc. is currently listed on the New York Stock Exchange under the ticker symbol “DXYZ.” For a comprehensive list of holdings, visit the fund website at www.destiny.xyz/tech100.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240524713070/en/
Robert Blecher
Source: Destiny Tech100 Inc.
FAQ
What is the net asset value (NAV) of Destiny Tech100 for Q1 2024?
The NAV for Destiny Tech100 is $5.07 per share for Q1 2024.
How does the Q1 2024 NAV of Destiny Tech100 compare to the previous quarter?
The NAV increased from $4.84 per share at the end of Q4 2023 to $5.07 per share in Q1 2024.
What is the aggregate fair value of Destiny Tech100’s portfolio companies as of March 31, 2024?
The aggregate fair value of the portfolio companies is approximately $51.7 million.
Did Destiny Tech100 make any new investments in Q1 2024?
No, Destiny Tech100 did not make any new investments between January 1, 2024, and March 31, 2024.
