You Can Now Invest in Hot Private Tech Companies: Should You?

The launch of a fund composed of 23 of the hottest private tech companies hit the ground running with investors, but a wait-and-see approach might be prudent.

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(Image credit: Getty Images)

The launch of Destiny XYZ’s new fund took Wall Street by storm when it began trading at the end of March, offering day traders and casual investors a way to buy into the prestigious world of private companies.

But better access shouldn’t be confused for a good deal; before consumers go running to invest in the fund, called Destiny Tech100 (DXYZ), they need to be fully aware of the risks, the hype and the bubble they’re potentially buying into. (Note: Destiny XYZ is not affiliated with the wealth management company I founded, Destiny Family Office.)

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Thomas Ruggie, ChFC®, CFP®
Founder and CEO, Destiny Family Office

Tom Ruggie, ChFC®, CFP®, founded Destiny Family Office, a Destiny Wealth Partners firm, to help clients manage the increasing complexities inherent in their business and personal lives. He has identified three key areas where his firm can make a significant difference: presenting a compelling sphere of investments, including alternative, direct and co-investment opportunities; creating a special emphasis on high-end collectors whose collections signify significant alternative investments; and strengthening the firm’s private trust capabilities. Ruggie has become one of the most respected financial advisers in the industry, receiving national recognition and rankings including: 11X Barron’s Top 1200 Financial Advisors, 6X Forbes/Shook Research Best-In-State Wealth Advisors (2023: 5th in North FL), 12X Financial Advisor Top RIA Firms and Forbes Finance Council 2016-2023.