.XYZ is home to many financial services and developers launching their projects on our versatile domains. Investment platform Launchpool.xyz aims to connect investment funds and communities to work together towards the same goals. Venture capital firm Paradigm.xyz is co-founded by Forbes-featured billionaire Fred Ehrsam and is focused on investing in web3-based companies. Social networking platform Prysm.xyz works to make crypto investments more transparent. In this week’s #WebsiteWednesday, we’ll introduce you to an innovative investment management company aimed at helping investors gain access to the private tech industry: Destiny.xyz.
Destiny.xyz is the online home of Destiny (also styled as D/XYZ), an Austin-based investment management company. The company plans to create a family of products and solutions that can help anyone with a brokerage account to invest in portfolios of private technology companies. In October 2021, Destiny.xyz closed a $100 million fundraising round.1 Early investors include Fred Ehrsam of Paradigm.xyz and seed-stage angel investment group Sand Hill Angels. The investment group shared their support via Twitter, stating “Pre-IPO investment has taken off in the past decade, but access today is still limited to insiders. It’s time to bring public access to private tech. Excited to be an early D/XYZ backer.”2
This fundraising success is helping with the development and launch of the Destiny Tech100, Destiny.xyz’s debut service. The Destiny Tech100 is intended to be a portfolio of the top 100 venture-backed private technology companies, helping everyday investors to have access to these private market leaders for the first time. The project is aimed to provide sophisticated, diversified, and liquid exposure to 100 of the top venture-backed technology companies while eliminating obstacles that limit private market access.
Destiny.xyz Founder and CEO Sohail Prasad previously created Forge Global, a private securities marketplace building trading, custody, and data infrastructure to service high-growth unicorn companies. Forge Global transacts billions of dollars in stock annually, and has raised over $250 million in financing from institutions such as Wells Fargo and German multinational insurance company Munich Re. Before developing Forge Global in 2014, Sohail was one of the youngest founders to go through technology startup accelerator Y Combinator at the age of 18 years old. Sohail has advised and invested in over 150 startups, including project management software company Notion and cloud-based software company Zenefits. Sohail continues to invest in seed stage companies through S2 Capital, and serves as its Founding Partner.
Innovators like Sohail Prasad continue to use .xyz domains to bring their new services to life. To align with their D/XYZ branding, Destiny.xyz also registered the D.xyz domain. This extremely memorable one-letter .xyz domain points to Destiny.xyz, which is a very smart idea. If someone is on the go and wants to quickly and easily reach the website on their mobile device, they just have to type D.xyz to reach Destiny.xyz. The company is still developing its services, but you can fill out their survey to stay updated as they prepare to launch. You can learn more by visiting Destiny.xyz.
XYZ is proud to share about the many incredible members that make up the XYZ community! We encourage you to do your own research before using the products and services of the websites we feature. The information about products and services contained in this blog post does not constitute endorsement or recommendation by XYZ.