Private Markets, Angel and Secondary Investing, Sacra

Sacra

Bringing transparency to private markets so investors, founders, and employees can build on conviction.

Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Last week, SpaceX announced the completion of a tender offer valuing the company at $800B, and reports now suggest the company is targeting a 2026 public listing at a $1.5T valuation.</li><li>SpaceX's expected 2026 IPO at a market cap of ~$1.5T embeds this kind of optionality the way Tesla embeds FSD, re-rating the company from a launch utility to be valued like a Boeing or Lockheed (.3 to 1x) to an infrastructure platform like Nvidia (30x+).</li><li>SpaceX uniquely positioned to capture the upside of 1) vertical integration with xAI ($3.2B annualized revenue in July 2025, up 3,100% YoY) for cheaper training &amp; inference, 2) being core infrastructure for Google (NASDAQ: GOOG), Microsoft (NASDAQ: MSFT) and Nvidia (NASDAQ: NVDA) for the next trillion dollars in spend on AI.</li></ul>

Last week, SpaceX announced the completion of a tender offer valuing the company at $800B, and reports now suggest the company is targeting a 2026 public listing at a $1.5T valuation.SpaceX's expected 2026 IPO at a market cap of ~$1.5T embeds this kind of optionality the way Tesla embeds FSD, re-rating the company from a launch utility to be valued like a Boeing or Lockheed (.3 to 1x) to an infrastructure platform like Nvidia (30x+).SpaceX uniquely positioned to capture the upside of 1) vertical integration with xAI ($3.2B annualized revenue in July 2025, up 3,100% YoY) for cheaper training &amp; inference, 2) being core infrastructure for Google (NASDAQ: GOOG), Microsoft (NASDAQ: MSFT) and Nvidia (NASDAQ: NVDA) for the next trillion dollars in spend on AI.

SpaceX

CoreWeave Of Space