Prof G Markets Democratizing the Private Markets — ft. Ben Miller
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Aug 29, 2024 Ben Miller reveals how his company, Fundrise, is breaking down barriers in the private markets, making investment opportunities accessible to everyday people. He discusses the regulatory challenges that limit access and the innovative steps being taken to foster inclusivity. Trust dynamics between investors and companies are examined, alongside the evolving landscape of investment since 2008. From navigating private credit and real estate funds to the emotional rollercoaster of entrepreneurship, insights on resilience and relationships shine through.
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Private Market Regulation
- Private markets are regulated differently than public markets.
- Historically, regular investors couldn't access them due to investor qualifications like accredited or qualified purchaser status, based on net worth.
Public Venture Fund
- Fundrise created the first public venture fund, accessible to regular investors.
- This innovative approach involved registering the fund itself with the SEC, similar to a mutual fund.
Democratizing Real Estate
- Ben Miller, co-founder of Fundrise, aimed to democratize real estate investing.
- This involved working with the SEC for several years to establish a new framework, similar to his later venture capital work.