Fund to Let Retail Investors Bet on Early Tech Startups

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The founders of Forge Global Inc., an online marketplace for buying and selling shares of private firms, are launching a new money manager that invests in technology startups before they go public.

The new company, D/XYZ, has raised $100 million for its first investment portfolio, Destiny Tech100, and aims to list it publicly as a closed-end exchange-traded fund, said Sohail Prasad, the company’s co-founder.