Bracket Capital Closes $450M Fund to Buy Up Employee Shares at SpaceX and Other Pre-IPO Companies

Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

Bracket Capital Closes $450M Fund to Buy Up Employee Shares at SpaceX and Other Pre-IPO Companies

Bracket Capital, a Beverly Hills-based investment management firm focused on acquiring secondary shares in later-stage tech companies like SpaceX and Bird, announced Wednesday it has raised nearly half a billion dollars in equity.

The firm will split the cash between two funds, a traditional $150 million fund and another $350 million one that will co-invest alongside other firms.

Rather than buying stakes directly in startups, the firm said 80% of its shares come from snapping up existing shares. Those often come from early employees – tired of waiting for their company to go public – who are looking to cash out some of their equity so they can buy a house or pay for tuition.


The goal is to capitalize on the trend of startups taking increasingly longer lengths of time to IPO while avoiding the risk of early-stage startups.

Yalda Aoukar (right) and Jihan Bowes-Little are the co-founders of Bracket Capital.

For instance, the firm invested in Airbnb's 2017 Series F at a $30 billion valuation. Late last year, the vacation rental service went public at a $47 billion valuation and now it has a market capitalization of $122 billion.

Other Bracket investments include SpaceX, Clover Health, Palantir, Coinbase, SoFi, eToro, Reddit, Impossible Foods, Bird, Clutter and Hive.AI.

Bracket was founded in 2017 by two ex-London bankers, Jihan Bowes-Little, formerly of Goldman Sachs, and Yalda Aoukar, who worked at Lehman Brothers, Barclay's and Morgan Stanley. The firm will now be managing a total of $650 million.

"We have developed a unique reputation in the market given our track record, discerning approach to investing, and deep industry relationships," Aoukar said in a statement. "We thank our new and returning limited partners for their confidence and trust as we act as stewards of their capital."

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Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Greater Good Health Raises $10 Million To Fix America’s Doctor Shortage
Courtesy of Greater Good Health

The pandemic highlighted what’s been a growing trend for years: Medical students are prioritizing high-paying specialty fields over primary care, leading to a shortage of primary care doctors who take care of a patient’s day-to-day health concerns. These physicians are a cornerstone of preventative health care, which when addressed can lower health care costs for patients, insurers and the government. But there’s a massive shortage of doctors all over the country, and the pipeline for primary care physicians is even weaker.

One local startup is offering a possible answer to this supply squeeze: nurse practitioners.

On Wednesday, Manhattan Beach-based Greater Good Health unveiled $10 million in new funding round led by LRVHealth, which adds to the startup’s $3 million seed round last year. The company employs nurse practitioners and pairs them with doctor’s offices and medical clinics; this allows nurse practitioners to take on patients who would otherwise have to wait weeks, or even months, to see a doctor.

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Plus Capital Partner Amanda Groves on Celebrity Equity Investments

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+ Shift.com, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
PLUS Capital​’s Amanda Groves.
Courtesy of Amanda Groves.

On this episode of the L.A. Venture podcast, Amanda Groves talks about how PLUS Capital advises celebrity investors and why more high-profile individuals are choosing to invest instead of endorse.

As a partner at PLUS, Groves works with over 70 artists and athletes, helping to guide their investment strategies. PLUS advises their talent roster to combine their financial capital with their social capital and focus on five investment areas: the future of work, future of education, health and wellness, the conscious consumer and sustainability.

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