Tiny's Metalab Ventures Celebrates Early Investment in xAI, Now Part of Newly Public SpaceX (SPCX)

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Tiny (OTC:TNYZF) highlighted that Metalab Ventures Fund I, managed by its subsidiary Metalab, invested US$1 million in xAI in 2024 and provided design and engineering services. xAI later merged into SpaceX (Nasdaq:SPCX), which completed a record IPO raising about US$85 billion.

MVF I is a fully deployed US$14.2 million fund with 42 investments across 36 companies; Tiny is an approximately 14% limited partner. The xAI stake converted into SpaceX shares at about US$17 each, recently closing near US$191.82. Tiny’s indirect interest is unrealized, under IPO lockup, and described as not material to its financials.

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Victoria, British Columbia--(Newsfile Corp. - June 17, 2026) - Tiny Ltd. (TSX: TINY) ("Tiny" or the "Company"), a holding company that acquires wonderful businesses for the long term, today noted that the first venture fund managed by Metalab Ventures — the venture arm of its design and product studio subsidiary, Metalab — made an early investment in xAI in 2024 alongside providing design and engineering services. xAI has since merged into SpaceX, which completed its initial public offering on the Nasdaq Stock Market (SPCX) on June 12, 2026. The IPO is the largest on record, raising approximately US$85 billion.

Metalab, best known for its work with companies such as Slack and Uber, expanded its studio model with a venture arm that invests early in select companies it helps build, including xAI. The Metalab Ventures Fund I ("MVF I") is a US$14.2 million fund which is fully deployed and has made 42 investments across 36 companies, co-investing alongside leading venture funds. In 2024, MVF I invested US$1M into xAI's series B which resulted in a price per SpaceX share of approximately US$17, which most recently closed at approximately US$191.82.

Tiny is an approximately 14% limited partner of MVF I, and Metalab which is a wholly owned subsidiary of Tiny, acts as the general partner of MVF I. In addition to xAI, MVF I has also held positions in Marc Lore's Ticketmaster competitor Jump and in the AI development tool Brev, which was subsequently acquired by Nvidia.

"Our xAI investment demonstrates the model works," said Luke Des Cotes, CEO of Metalab and a general partner at Metalab Ventures. "Metalab built a venture arm which sits alongside the studio, which gives us early, proprietary access to invest in some of the world's most innovative companies. This is a great early outcome from an engine we expect to keep showing results." With MVF I fully deployed, Metalab Ventures intends to form a second fund in due course.

"Metalab's brand was built by doing exceptional work for exceptional companies. One byproduct of that trust is access to rare opportunities alongside the studio's core business. xAI is a great example, and we're proud of the Metalab team for continuing to support ambitious founders as they build category-defining companies," said Austin Singhera, Tiny's CEO.

Tiny is a limited partner in MVF I, and Tiny does not hold any SpaceX shares directly. The interest is currently unrealized, remains subject to a customary post-IPO lockup, and is not material to Tiny's financial position or results of operations.

This news release is not an offer to sell or the solicitation of an offer to buy any security, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

About Tiny

Tiny is a Canadian holding company that acquires wonderful businesses using a founder-friendly approach. It focuses on companies with unique competitive advantages, recurring or predictable revenue streams, and strong free cash flow generation. Tiny typically holds businesses for the long-term, with a parent-level focus on capital allocation, collaborative management and operations, and incentive structures within the operating companies to drive results for Tiny and its shareholders.

Tiny currently has three principal reporting segments: Digital Services, which help some of the world's top companies design, build and ship amazing digital products; Software and Apps, which is home to Serato, the world's leading DJ software, and WeCommerce, a collection of leading application and theme businesses powering global e-commerce merchants; and Creative Platform, which is composed primarily of Dribbble, the social network for designers and digital creatives, as well as Creative Market, a premier online marketplace for digital assets such as fonts, graphics and templates.

For more about Tiny, please visit www.tiny.com or refer to the public disclosure documents available under Tiny's profile on SEDAR+ at www.sedarplus.ca.

Cautionary Note Regarding Forward-Looking Information

Certain statements in this press release may constitute forward-looking information or forward-looking statements (together, "forward-looking statements") that reflect management's current expectations regarding the Company's future growth, financial performance, business prospects and opportunities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate", "believe", "plan", "forecast", "expect", "estimate", "predict", "intend", "would", "could", "if", "may" and similar expressions. This press release includes, among others, forward-looking statements regarding the value and ultimate realization of the position held by MVF I that is now part of publicly listed SpaceX, including the effect of the post-IPO lockup; Metalab Ventures' intention to form a successor fund; the potential realization by Tiny of any proceeds from a sale of such interest, the ability, the success or results of any other investments made by MVF I and the future plans and strategies of the Company and its subsidiaries. These statements reflect current expectations of management regarding future events and speak only as of the date of this press release. In addition, forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

By their nature, forward-looking statements require management to make various assumptions and are subject to inherent risks and uncertainties. There is a significant risk that such predictions, forecasts, conclusions or projections will not prove to be accurate, that management's assumptions may not be accurate and that actual results, performance or achievements may differ significantly from such predictions, forecasts, conclusions or projections expressed or implied by such forward-looking statements. We caution readers not to place undue reliance on the forward-looking statements in this press release as a number of factors, many of which are beyond the Company's control, could cause actual future results, conditions, actions or events to differ materially from the targets, outlooks, expectations, goals, estimates or intentions expressed in the forward-looking statements. These factors include, but are not limited to: short term liabilities; the failure to integrate acquisitions; the ability of Tiny to realize on its indirect investments through MVF I; the future results of third party companies in which Tiny has an indirect interest; and the ability of Tiny to monetize its existing indirect investments. For a more detailed discussion of the Company's risk factors, see the list of risk factors in the Company's Annual Information Form dated March 30, 2026 which is available on SEDAR+ at www.sedarplus.ca under the Company's profile.

The Company cautions that the foregoing list is not exhaustive of all possible factors, as other factors could adversely affect our results. When relying on our forward-looking statements to make decisions with respect to the Company and its securities, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Unless otherwise indicated, the information in this press release is current as of the date of this press release and the Company does not intend, and disclaims any obligation, to update any forward-looking statements, whether written or oral, or whether as a result of new information or otherwise, except as may be required by law.

Company Contact
Mike McKenna
Chief Financial Officer
Phone: 416-938-0574
Email: mike@tiny.com

SOURCE: Tiny Ltd.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302000

FAQ

What did Tiny (TNYZF) announce about its indirect investment in SpaceX (SPCX)?

Tiny announced that Metalab Ventures Fund I, where Tiny is a limited partner, invested early in xAI, which later merged into SpaceX. According to Tiny, this investment converted into SpaceX shares now subject to a customary post-IPO lockup and remains unrealized.

How is Tiny (TNYZF) economically connected to xAI and SpaceX (SPCX)?

Tiny has no direct SpaceX shares but is an approximately 14% limited partner in Metalab Ventures Fund I. According to Tiny, that fund invested US$1 million in xAI’s 2024 Series B, which converted into SpaceX stock after xAI merged into SpaceX.

What return has Metalab Ventures reported on its xAI investment linked to SpaceX (SPCX)?

Metalab Ventures Fund I invested at an implied price of about US$17 per SpaceX share, which recently closed around US$191.82. According to Tiny, this gain is held within the fund, remains unrealized, and is not considered material to Tiny’s overall financial position.

What are the key details of Metalab Ventures Fund I associated with Tiny (TNYZF)?

Metalab Ventures Fund I is a US$14.2 million fund, fully deployed across 42 investments in 36 companies. According to Tiny, Tiny is an approximately 14% limited partner, while its subsidiary Metalab acts as the general partner managing the venture fund.

Does Tiny (TNYZF) expect more venture funds after Metalab Ventures Fund I?

Metalab Ventures Fund I is fully deployed, and Metalab Ventures intends to form a second fund in due course. According to Tiny, the xAI investment is viewed as an early example of the studio-plus-venture model they plan to continue expanding.

Is Tiny’s indirect SpaceX (SPCX) exposure significant for TNYZF shareholders?

Tiny describes its indirect SpaceX exposure as not material to its financial position or results of operations. According to Tiny, the interest is currently unrealized, held via Metalab Ventures Fund I, and remains subject to a customary post-IPO lockup period.