Anthony Scaramucci, the SkyBridge founder known as "The Mooch," once argued that heavy-handed Securities and Exchange Commission rules are shutting ordinary Americans out of the country's most exciting companies.
Scaramucci Criticizes SEC Regulations
In a July 2025 YouTube Shorts clip, Scaramucci said the U.S. is seeing fewer "great companies going into the hands of the public."
He pointed to privately held firms such as Elon Musk's xAI and SpaceX, which remain out of reach for everyday investors because they have not pursued initial public offerings.
According to Scaramucci, burdensome regulations discourage firms from listing publicly.
"It's hard for the public to get access," he said, adding that he hopes the SEC reduces layers of red tape to make IPOs more attractive.
Comparing Microsoft In 1986 To Today
Scaramucci pointed to Microsoft Corporation's (NASDAQ:MSFT) 1986 IPO, noting that early investors who recognized its potential were well-positioned to build substantial wealth.
He contrasted that era with today's market, where growth often happens behind closed doors among venture capitalists and private equity backers.
He urged regulators to create a system that allows retail investors to put money behind "all-star CEOs" such as Coinbase's Brian Armstrong and other visionary founders earlier in their growth cycles.
Robinhood Aims To Give Retail Investors Access To Private Firms
Echoing Scaramucci's concerns, Robinhood Markets Inc. (NASDAQ:HOOD) this month unveiled Robinhood Ventures Fund I or RVI, aimed at expanding retail investor access to private companies.
The closed-end fund has submitted its initial registration on Form N-2 with the Securities and Exchange Commission and will be overseen by Robinhood Ventures DE, LLC, a newly formed, wholly owned subsidiary.
The fund is designed to let everyday investors participate in private company growth ahead of IPOs — an investment channel long dominated by wealthy individuals and institutional players.
The move comes as the number of publicly traded firms in the U.S. has steadily declined, dropping from nearly 7,000 at the start of the millennium to about 4,000 in 2024.
Meanwhile, private markets have surged in scale, with valuations topping $10 trillion across the U.S. economy.
Robinhood previously tested the concept in Europe with the rollout of private tokenized stocks. RVI is meant to serve as the U.S. counterpart.
Pending SEC approval, RVI shares are expected to be listed on the New York Stock Exchange under the ticker symbol RVI.
SoFi Lets Retail Investors Buy Into SpaceX, OpenAI And Others
In July this year, SoFi Technologies Inc. (NASDAQ:SOFI) gave everyday investors a chance to get in on the action through new funds backed by Cashmere, Fundrise and Liberty Street Advisors.
Through these funds, retail investors could access shares of SpaceX, OpenAI, Epic Games and other private companies with investments starting as low as $10.
ARK Venture Fund Lets Retail Investors Access Musk's Private Companies
Last year, Cathie Wood's ARK Invest opened the door for everyday investors to back Elon Musk's private ventures.
The firm's ARK Venture Fund (NASDAQ:ARKVX) includes Musk-led companies such as SpaceX, X and xAI.
According to ARK Invest, U.S. self-directed investors can use the SoFi app to invest in a portfolio of private and public companies through the ARK Venture Fund, starting with as little as $500.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: Al Teich On Shutterstock.com
