Costolo: Mega-cap IPO distributions will reignite early-stage VC fundraising
Dick Costolo · Predicting the SpaceX, OpenAI, and Anthropic IPOs — With Dick Costolo · May 27, 2026 · at 24:54
Dick Costolo, former Twitter CEO and managing partner at 01 Advisors, discusses how mega-cap tech IPO liquidity will unblock university endowments and LPs to invest in venture funds.
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“You've got all these university endowments and, Venture LPs, et cetera, that haven't had their big liquidity events that are now gonna be, you know, flush with distributions of SpaceX and Anthropic and OpenAI that are gonna be able to turn around and pour a bunch more money into the early stage venture capital again that have been maybe, maybe people who, hey, like, I'm already, you know, SpaceX is marked up to this. It's on a markup basis. It's now this percentage of my portfolio. It's only supposed to be seven or eight percent. It's now 15%. Can't invest in new venture funds. That becomes liquid. You get your big SpaceX distribution. You got a lot of money to go invest in, in, in venture capital again. So there will probably be six to 12 months down the road. A great time to go raise venture venture capital from LPs.”
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