The bigger the raise, the more news and hype, the easier it will be to offload the stock to retail investors. Theres definitely a sweet spot here where I assume the large funds will want retail investors to start picking up the losses instead of them. I don't see this as a long path till IPO like Stripe or SpaceX but I could be wrong

The losses will just get bigger and bigger, and eventually there will be an appetite for retail investors to pick up the tab