Key insights
- The article suggests DXYZ is undervalued, trading below its projected Net Asset Value (NAV) of $34. This projection incorporates significant stakes in Anthropic and potential upside from an IPO of Space. The author highlights a previous rally in DXYZ and suggests current options are overpriced, making the stock the preferred investment. This analysis could influence investor sentiment towards venture capital-related equities.
Last NAV is $24.56 per
https://www.sec.gov/Archives/edgar/data/1843974/000157587226000288/dxyz100_424b3.htm
18% is Anthropic which adds $6.60 for the latest funding round. Space IPO is basically almost double the 1.25 Trillion valuation. That is another $2 at the current price to the NAV (9.6% of the reported holdings).
They also raised cash through ATM at a premium to NAV
This brings the conservatively projected NAV to $34 with the OpenAI/Anthropic IPO upside from here on still available.
I had last called it here and it had rallied from $24 to $72. https://www.reddit.com/r/stocks/comments/1s1qo2k/relative_value_play_between_vcx_and_dxyz_for_the/
Now's another chance, this has 18% Anthropic! Options are too expensive with IV so stock is the best bet.