The Dark Side of Private Markets: When Firms Sell Your Dreams, Not Shares Ram Rupireddy thought he had $300,000 in SpaceX shares.
But when he tried to sell them, he discovered that his firm, Late Stage Capital, had sold the shares without notice. This is not an isolated incident; it's a symptom of a larger problem plaguing private markets.
Private market firms often use special purpose vehicles (SPVs) to invest in pre IPO companies without filing public records or meeting SEC regulations.