Throughout Frank Cardia’s career in financial services, he has facilitated more than $1 billion in venture capital funding. Today, Frank Cardia is the managing director of Iron Edge VC, where he matches investors with late-stage, pre-IPO companies that show great promise for appreciation. One of the company’s successful matches is Palantir.
Tuesday, January 12, 2021
Palantir Public Listing Generates
Iron Edge VC expressed great confidence in Palantir long before the company decided to go public. Iron Edge VC featured Palantir in the Iron Edge newsletter, and as late as June 2020 was offering investors the opportunity to purchase shares of Palantir in the private markets for $6. Private shares were plentiful, but demand was not strong since most people did not know about the data company.
Things changed in July 2020 when Palantir decided to go public. After filing with the Securities and Exchange Commission, early investors and employees stopped selling shares in the private markets, hoping for a bigger payout in the IPO. This withdrawal catapulted the demand for shares in the private markets, driving prices to a high of $10.
When Palantir went public in October 2020, shares reached a high of $15.90 before settling to $15.30. Investors who bought the company’s private shares at $6 are now sitting on capital gains of over 175 percent. Iron Edge VC is proud to have facilitated such an impressive return on investment.