Beta Bionics IPO Blossoms, Venture Global Disappoints

In this issue:

• Interview on the BiggerPockets Money YouTube Channel
• Venture Global IPO Disappoints
• Beta Bionics IPO Blossoms
• IPO Radar: Oura Ring, Tenstorrent, Colossal, Helion, OpenAI
• Join the Private Facebook Group (we just passed 100 members)

​Interview on BiggerPockets

Earlier this month, I recorded a YouTube appearance with Mindy and Carl Jensen of BiggerPockets Money and the 1500 Days blog.

This interview is a 101 primer on pre-IPO investing targeted at the financial independence community (FIRE). Carl is a pre-IPO SpaceX investor and a long-time Tesla shareholder.

I talk about trends, how to invest, and specifics about pre-IPO investing.

Watch the video on the BiggerPockets Money YouTube channel:

I also appeared live on the TD Direct Investing YouTube channel. The edited version hasn’t been posted yet. So, if you missed the live event, I’ll post the video once available.

Thanks to those who joined us and submitted questions.

If you have a podcast or publication and are interested in collaborating, reply to this email, and let’s talk.

Venture Global (VG) Disappoints

Venture Global released its S-1 with dreams of debuting at a $110 billion market cap (see last newsletter).

Unfortunately, that was far too ambitious.

A few weeks later, the company reset, lowering the IPO price and valuation, and ultimately launched its IPO at a $65 billion valuation.

Worse, it opened $1 below its IPO price ($25) and fell below $20 a few days later.

I received 50 of the 100 shares requested in my Fidelity IRA. Since I NEVER receive Fidelity shares when I request them, I was immediately skeptical of demand.

But it was too late; I already received my shares.

The stock is showing signs of recovery, but this is not a long-term holding for me. Fidelity has a 15-day anti-flipping period, so I’ll hold these shares until I can sell without penalty.

Beta Bionics IPO Blooms

Beta Bionics is a medical device maker that competes with Insulet, Medtronic, and Tandem diabetes.

It manufactures an insulin pump designed for people with Type 1 Diabetes (T1D) who want a simpler way to manage their condition.

The Beta Bionics IPO launched on January 30th, raising $204 million. The deal was priced at $17 per share, opened at $22, and finished the day up 39% at $23.63.

No reports of IPO access in our community.

T1D is an autoimmune disorder that is unpreventable, uncurable, and requires synthetic insulin injection for every meal of a patient’s lifetime.

T1D doesn’t go away with improved diet and exercise. About 1 in 20 people with diabetes are Type 1.

Type 2 Diabetes typically affects older people with weight and diet issues. 19 of 20 people with diabetes have Type 2, and about 25% are insulin-dependent.

My 13-year-old son was diagnosed with Type 1 when he was 9. So I am acutely familiar with these devices and how they make lives easier. He wears the OmniPod 5 insulin pump manufactured by Insulet.

Learn more about Type 1 Diabetes at BreathroughT1D.org.

Beta Bionic’s pumps are unique because they are easier to operate, have simpler inputs (just weight and meal size), and do not require carb counting. Someday, it will add a second hormone (glucagon) to prevent blood sugar lows, getting the industry closer to an “external pancreas”.

IPO Radar

Here are the latest IPO Radar articles. Also included are three large fundraising campaigns by radar companies.

​Oura Ring — The Oura Ring is a “smart ring” that monitors sleep, activity, and readiness through advanced sensors and algorithms. Think WHOOP for your finger. The company raised a $200 million round in December 2024 and is profitable.

​Tenstorrent — Tenstorrent is a Toronto-based company that builds computers and chips for AI developers. It raised a $693 million round last month.

​Colossal Biosciences — The “de-extinction company” aspiring to bring back the woolly mammoth and dodo bird raised an impressive $200 million at a $10 billion valuation.

​Helion Energy — One of the leading fusion energy startups with famed investor support from Sam Altman, Lightspeed, Softbank, Y Combinator, and Dustin Moskovitz, raised $425 million at a $5.5 billion valuation. I’m headed to a fusion energy conference in Washington, D.C., in February to learn more about this exciting technology.

​OpenAI — WSJ: OpenAI is “In talks” to raise $40 billion in new funds at a $340 billion valuation. Many readers are long via the Fundrise Innovation Fund*.

Watchlist

Watch for more IPO filings in the next few months. Klarna, CoreWeave, Chime, and Cerebras could be next.

Thanks for reading.

Featured image via DepositPhotos used under license.