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Episode 1: How Private Markets Are Redefining IPOs

Jay Bala and Corey Goldman talk private markets, IPOs, private credit, OpenAI, SpaceX, investing and markets

Corey Goldman

Sep 5, 2025

Jay Bala, Founder, CIO, Portfolio Manager, AIP Asset Management

In a sit-down with Corey Goldman, Jay Bala, Founder, CIO and Portfolio Manager of AIP Asset Management, explains why private capital markets remain vital for the health of the IPO market, and for the financial system as a whole in transferring capital from investors to innovators.


  • Without IPOs, wealth concentrates in a small institutional circle

  • Public listings democratize access, allowing everyday investors to participate in growth stories.

  • Private fundraising may be easier for companies, but IPOs serve a broader societal purpose.


Watch the full interview here.

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