Soreide Law Group is investigating potential investor claims involving losses in NextGenTech Investments LLC, a private fund managed by Sestante Capital LLC that purported to provide investors with economic exposure to shares of private companies, including Anduril Industries. Recent criminal proceedings involving Sestante Capital's manager have raised significant concerns regarding the offering, the representations made to investors, and the conduct of financial professionals who may have recommended these investments.
NextGenTech Investments LLC is a private investment fund for which Sestante Capital LLC served as managing member and financial advisor. The fund purported to offer investors economic exposure to private-company equity through membership interests in individual series controlled by the fund.
According to federal prosecutors, investors were offered interests in specific NextGenTech series that purportedly provided exposure to shares of private companies. One of the most prominent offerings involved purported exposure to shares of Anduril Industries, a private defense technology company.
According to the U.S. Department of Justice, from approximately 2019 through 2025, Giovanni Pennetta, the manager of Sestante Capital, allegedly misrepresented that he had access to shares of private companies and could offer investors exposure to those shares through NextGenTech. Prosecutors alleged that many of these representations centered on Anduril shares and purported connections to individuals associated with Anduril.
Federal authorities further alleged that Pennetta provided falsified documents purporting to demonstrate access to Anduril shares and to show that certain NextGenTech series provided exposure to those shares. Prosecutors alleged that Pennetta did not actually have access to Anduril shares and that NextGenTech did not possess the represented Anduril exposure. According to the DOJ, investors contributed millions of dollars based on those representations but received no economic exposure to Anduril shares.
In December 2025, Pennetta faced criminal charges. Prosecutors alleged that substantial investor funds were transferred to Pennetta's personal bank account. According to the DOJ, Pennetta misappropriated more than $10 million in investor money. In March 2026, Pennetta pleaded guilty to one count of wire fraud.
Publicly available information reveals that some investors may have been introduced to Sestante Capital and NextGenTech Investments through brokers associated with Forge Securities LLC, a FINRA-registered broker-dealer involved in private-market transactions. Although the criminal case involves Pennetta and Sestante Capital rather than Forge Securities, questions have been raised regarding whether adequate due diligence was performed before investors were directed into the offerings and whether the claimed access to private-company shares was independently verified.
Investors may have potential claims if a broker recommended NextGenTech Investments without conducting reasonable due diligence regarding the fund, the underlying assets, or the claimed access to Anduril shares. Investors may also have claims if brokers failed to verify representations contained in offering materials or failed to investigate red flags concerning the investment.
Additional potential issues may include unsuitable recommendations of a speculative and illiquid private placement, misrepresentations regarding the nature of the investment, omissions, Regulation Best Interest violations, and failures by brokerage firms to supervise representatives involved in recommending or facilitating the offering. Depending on the circumstances, investors may be able to pursue recovery through FINRA arbitration or other legal remedies.
Did you experience losses because of investing in NextGenTech Investments LLC because of your financial advisor or securities broker? Get in touch with Soreide Law Group at (888) 760-6552 or online and talk to a securities attorney regarding a possible recovery of your investment losses. Soreide Law Group has recovered losses for many investors throughout the United States. The firm works on a contingency fee arrangement and advances all costs.
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