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Sim is the founder and CEO of Hiive, the first true marketplace for private company stock. Hiive is revolutionizing the way in which buyers and sellers of stakes in unicorns come together by centralizing and automating traditional market processes. Previously he spent over 13 years at Setter Capital, most recently founding and leading the firm’s venture capital secondaries team since 2015. He grew that business from a new entrant to VC/unicorn trading to its current position as a major global hub.

Sohail is the Founder & CEO of Destiny (D/XYZ), an investment management company that provides public access to the private tech markets. Prior to founding Destiny, Sohail was the Founder and CEO of Forge, a global private securities marketplace building trading, custody, and data infrastructure to meet the needs of high-growth unicorn companies, employees, and investors. Prior to starting Forge in 2014, he was among the youngest founders to go through Y Combinator as an eighteen-year-old. Over the years, Sohail has advised and invested in over 150 startups, including notable startups such as Rappi, Rippling, Notion, Retool, Astranis, Superhuman, Mercury, and Zenefits. He continues to invest in seed stage companies through S2 Capital, and serves as its Founding Partner. He previously managed mobile product at Zynga, joined mobile advertising firm Chartboost as its second engineering hire, and has held roles at Google and the MIT Media Lab.

Today on the podcast we discuss:

1. Sim & Hiive Intro (1:15)

2. Sohail & D/XYZ Intro (4:21)

3. What has gone into starting The Destiny100? (6:28)

4. How does The Destiny100 interact with the rest of the market? (7:34)

5. What does the marketplace look like? Who are players in the private fund market? (9:26)

6. Why did Sohail choose to go the route of reaching unaccredited investors and how do they make that profitable? (12:26)

7. How do they balance the access piece with the profitability piece at Hiive? (16:48)

8. How does D/XYZ approach the oxymoron of making the private market more transparent? (20:06)

9. How does the pricing work? How do they balance the whims of the public market with their private assets? (25:49)

10. Sohail’s Thoughts on Democratization of the Markets (37:57)

11. How does management of the private companies react to the pitch of D/XYZ? (40:46)

12. Sohail’s and Sim’s Thoughts on Best Practices (50:29)

13. Closing Remarks & The Future of D/XYZ (1:05:47)