Benzinga - Venture capitalist Tim Draper is known to many as the man who predicted the price of Bitcoin (CRYPTO: BTC) correctly in 2014.
Some might be surprised to learn that Draper was one of the early investors in Tesla Inc (NASDAQ: TSLA), now one of the most valuable companies in the world.
What Happened: Over the years, Draper has made investments in many technology companies including Hotmail, Skype, Twitter, Robinhood, Coinbase, and SpaceX.
In 2006, Draper invested in a Series C funding round from Tesla, which came four months before the electric vehicle company went public.
Draper shared his thoughts on Tesla CEO Elon Musk and his regret for selling his Tesla stake early, during a recent appearance on Benzinga’s “The Raz Report.”
“I think he’s bold and fearless, that’s the key,” Draper said of Musk.
Draper said Musk is willing to do the things people are embarrassed or not comfortable doing. “That is a special quality.”
The investor added that Musk doesn’t allow the noise to get in his way.
“He puts the world on a mission and gets some extraordinary people working with him.”
Draper said Musk also clearly has “a beautiful imagination.”
Related Link: Exclusive: Tim Draper Reflects On Bitcoin ETF As Grayscale Announces New Ethereum Fund
Selling Early: Draper shared that he has had many winning investments over the years, with Robinhood Markets (NASDAQ: HOOD) his biggest winner with a 1000x return.
Had he held on to his early investment in Tesla, the stock would have been Draper’s biggest win ever.
“We left a lot of money on the table,” Draper said.
Draper said the investment in Tesla yielded a 30x return, which is undoubtedly substantial. However, he expressed regret at selling too soon.
The investor said there was pressure from his investors to take profits and sell the stake at the time.
Draper was an investor in Tesla’s $40 million Series C, which also counted VantagePoint Venture Partners, JP Morgan and Musk himself as investors.
Other investors at the time were Sergey Brin and Larry Page, co-founders of Google.
Draper said had he held on to the stake in Tesla, the return would have been 4000X.
Not all investments, whether by Draper or anyone else, guarantee positive returns. However, Draper's consistent success stories and his accurate 2014 price prediction have solidified his reputation as one of Silicon Valley's most esteemed figures.
Read Next: If You Invested $1,000 In Tesla Stock At IPO, Here's How Much You'd Have Today
Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event - Future of Digital Assets. Tickets are flying- get yours!
Photo: Web Summit on Flickr
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.