NonPublic delivers over 10x return on SpaceX investments for early investors
NonPublic
NonPublic delivers over 10x return on SpaceX investments for early investors
Sydney, Australia - 7 July 2026: Private markets technology investment platform NonPublic has delivered over a 10x return to early investors, after they saw SpaceX’s valuation soar to a peak of 2.6 trillion following the biggest IPO in history.
The NonPublic Group ran 14 vehicles across SpaceX, and xAI which merged into SpaceX, growing US $4.4 million of investor capital into around US$16 million at the IPO price and US$24 million at the June peak, before fees.
SpaceX stock surged 67 percent above its IPO valuation within days of listing, and total market cap still currently sits at over US $2 trillion, but the vast majority of investor returns were realised well before the public markets were granted access.
Direct access to US private placements like these has historically required Australian investors to hold US SEC accreditation or qualified purchaser status, leverage a US-licensed broker, and commit a minimum of US$1 to 5 million per deal.
These requirements are operationally and legally impractical for most eligible Australian investors to meet directly, however NonPublic gave eligible wholesale Australian investors access to the deal by pooling funds through a Special Purpose Vehicle (SPV).
This access was critical given SpaceX remained private for 24 years accruing value before listing, as the average time from founding to IPO for major US technology companies has grown from around four years in the early 2000s to 12 years today.
As SpaceX prepares to join the Nasdaq 100 on 7 July in a move expected to trigger billions in passive fund inflows, NonPublic believes its investors already captured the bulk of the company's value creation before public markets opened.
Milan Reinartz, founder and CEO at NonPublic, said: "When we first accessed SpaceX in 2021 at a US$108 billion valuation, many people thought the ceiling was closed. They missed what Starlink represented as a commercial engine, and the long-term mission that gives SpaceX a purpose no competitor can replicate.
"What this outcome illustrates is that the most significant growth in today's leading technology companies increasingly belongs to private market investors. Most of the money is made before the bell rings, and as companies stay private for longer, that window only widens.
"For eligible Australian wholesale investors, that opportunity has historically been out of reach. Our goal is to provide access to these companies at transparent fee structures through familiar Australian structures, while being clear that disciplined diversification across a portfolio is how investors manage the genuine risks of this asset class."
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Please contact Priyanka Dogra for any interview requests: 0410 593 587
About us:
NonPublic (www.nonpublic.com) is an Australian-licensed investment platform providing sophisticated/accredited and professional investors with curated access to exclusive pre-IPO and private market opportunities, with a focus on leading US technology companies. Through a transparent, technology-enabled platform, NonPublic connects investors with high-growth private companies, secondary transactions, and alternative investment opportunities that have traditionally been difficult to access.
NonPublic Pty Ltd holds Australian Financial Services Licence (AFSL) 482668.
Contact details:
Priyanka Dogra
0410 593 587
