Destiny Tech100 Inc. 2024年度报告

Explanatory Note The Registrant is filing this amendment to its Form N-CSR for the year ended December 31, 2023, originally filed with the U.S. Securities and Exchange Commission on March 8,2024. The purpose of this amendment is to include restated financial statements for the year ended December 31, 2023 to reflect a revised presentation of the investments held by theRegistrant in special purpose vehicles (“SPVs”) in the schedule of investments included in the Registrant’s financial statements. These revisions are reflected in the accompanyingrestated financial statements and do not affect investments, at fair value, total assets, total net assets, net asset value per share, changes in net assets, total return, or the FinancialHighlights. The effects of this restatement on the Registrant's financial statements for the year ended December 31, 2023 are further described in Note 10 to the financial statements. Manager’s Commentary (Unaudited)2Performance and Graphical Illustrations (Unaudited)3Schedule of Investments (as restated, see Note 10)4Statement of Assets and Liabilities7Statement of Operations8Statements of Changes in Net Assets9Statement of Cash Flows10Financial Highlights11Notes to Financial Statements12Report of Independent Registered Public Accounting Firm26Additional Information (Unaudited)27Privacy Policy (Unaudited)28Directors and Officers (Unaudited)30 Destiny Tech100 Inc. Manager’s Commentary (Unaudited)As of December 31, 2023 Dear Shareholders: For the 12 months ended December 31, 2023, the investments held by Destiny Tech100 (the “Fund”) generated a return of -7.3%1. This compares to a 43.4% return for the NasdaqComposite Index, a benchmark, over the same period. This year’s market environment followed the trend set in the latter half of 2022. Interest rates continued to affect a broad spectrum of asset classes and economic sectors, as theFederal Reserve signaled a commitment to maintaining a “higher for longer” approach to rates. Higher nominal and real rates enhance the appeal of alternatives like credit, raising the hurdle rate for risk assets – a shift that was priced into the stocks of public tech companieslast year. However, limits to secondary liquidity and wide bid-ask spreads delayed a similar repricing in private company shares. These factors have impeded price discovery and arefurther complicated by many private firms choosing to conserve cash and extend runway rather than accept reduced valuations. Fortunately, forecasting macroeconomic thunderstorms is not our focus. The art of building and investing in businesses is one of grit, patience, and a recognition that the progress ofa product that matters is rarely linear. One of the most important inputs to success is time. The Tech100 currently maintains positions in 23 private companies, with over 40% of the portfolio concentrated in aviation and aerospace businesses such as SpaceX, RelativitySpace, and Boom Supersonic that were underwritten assuming a 5-10 year time horizon. We remain optimistic with respect to the intrinsic growth of these holdings, which shouldconverge with portfolio performance over time. One of the two investments we made this year exemplifies this strategy: we increased our position in Axiom Space, which now represents approximately 10% of the portfolio. Ledby the former head of NASA’s international space station (ISS) program, Axiom has secured a sole-source contract to build the successor to the ISS and intends to use the proceedsfrom this project to build the first generation of commercial space destinations. As with the other companies in our portfolio, the execution of this vision needs to be consistent, butthe results will be lumpy. Additionally, on December 22nd, the SEC declared our resale registration statement effective. With this milestone met, we’re now anticipating a listing on the NYSE in Q1 or Q22024. We appreciate your continued support and look forward to an exciting year ahead. Sincerely, Sincerely, Sohail Prasad Destiny Tech100 Inc. Performance and Graphical IllustrationsDecember 31, 2023 (Unaudited) The Fund’s performance figures*for the period ended December 31, 2023 compared to its benchmark: Fund/Index (a)The Fund commenced operations on May 12, 2022. The performance is based on average annual returns. (b)The Nasdaq Composite Index is a market cap-weighted index, simply representing the value of all its listed stocks. The set of eligible securities includes common stocks,ordinary shares, and common equivalents such as ADRs. However, convertible debentures, warrants, Nasdaq-listed closed-end funds, exchange traded funds (ETFs), preferredstocks, and other derivative securities are excluded. The graph shown above represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Past performance does not guarantee future results.All returns reflect reinvested dividends, but do not reflect the deduction of taxes that a shareholder