Destiny Tech100, a recently launched fund, has caused a stir among investors with its volatile performance and access to private technology companies. Despite concerns raised by Morningstar and competitor ARK Investment Management about its high fees and structure, Destiny Tech100 has seen significant interest from retail investors, contributing to its rapid growth. The fund’s founder, Sohail Prasad, aims to provide wider access to pre-IPO companies typically reserved for affluent investors. ARK Investment Management, led by Cathie Wood, has its own fund in this space, named ARK Venture Fund, but it has faced challenges attracting investors. Despite criticism, Prasad remains confident in Destiny Tech100’s approach, emphasizing its simplicity and liquidity. Both ARK and Morningstar have raised concerns about Destiny Tech100’s high fees and structure, but Prasad believes the fund offers a valuable opportunity for investors to access private market opportunities.