Matador Secondary Private Equity has issued a portfolio update highlighting the potential NAV impact of a possible SpaceX IPO. SpaceX is the most notable exposure to an IPO candidate within Matador’s Equity VC/Growth segment, which accounts for 28% of total private equity NAV. SpaceX is currently carried on Matador’s books at comparatively low initial valuations.
A successful SpaceX IPO this year could generate additional income or gains of around CHF2m for Matador, with cash distributions of around CHF2.5m expected once the lock-up period has expired. Beyond SpaceX, Matador also reports indirect exposure to several potential IPO candidates, including Anduril, Stripe, Revolut and Canva.
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