How To Invest in Private Markets Before the IPO Wave
In this Australian Investors Podcast episode, Owen Rask sits down with Pengana Executive Director, Adam Myers, to unpack one of the biggest shifts in modern investing: more of the value in the world’s best companies is now being created before they ever reach the stock market. Using SpaceX, OpenAI, Anthropic, Databricks, Canva and Waymo as examples, they explore why private markets matter more than ever for investors trying to understand where long-term wealth is being built.
Adam explains why retail investors rarely get direct access to these deals, how large institutions and well-connected allocators tend to dominate the best opportunities, and what has changed since the days when public market investors could buy into companies much earlier in their growth journey. They also discuss how AI is accelerating this shift, from infrastructure and data platforms through to physical AI, and why diversified exposure matters more than trying to bet on a single winner.
If you’ve ever wondered whether public market investors are arriving too late to the party, or how listed vehicles can provide access to private companies without the usual complexity, this episode will help. Owen and Adam also cover portfolio construction, liquidity, risk, and why the private-to-public transition may become one of the defining investing themes of the next decade.
Disclosures
Pengana Investment Management Limited (PIML) ACN 063 081 612 AFSL 219 462 as responsible entity for AI Private Opportunities Trust ARSN 697 001 184 (AIX), is the issuer of AIX units. This podcast was produced and published by Equity Mates Media, and PIML’s representative participated to provide general information only. It does not take into account your objectives, financial situation or needs and because of that, before making an investment decision you should consider the appropriateness of this information having regard to your objectives, financial situation and needs. You should obtain and consider the TMD available at pengana.com/AIX before deciding whether to acquire or hold AIX units and whether AIX units are appropriate for you. Any forward-looking statements made are the speaker’s views at the time of recording only and are not guaranteed to occur. None of PIML nor any of its related entities, directors, partners or officers guarantees the performance of, or the repayment of capital, or income invested in AIX. An investment in AIX is subject to investment risk including a possible loss of income and principal invested. Past performance is not a reliable indicator of future performance, the value of investments can go up and down.
