Monday, July 20, 2026 is a milestone day for one of my early investments. Boxabl Inc. begins trading on the Nasdaq Stock Market under the ticker BXBL, following the completion of its business combination with FG Merger II Corp. at a $3.5 billion valuation — 350 million shares issued to Boxabl stockholders at a deemed value of $10 per share.
I invested in Boxabl early on, when the pitch still sounded audacious to most people: build homes the way the world builds cars — on an assembly line — and unfold them on-site in under an hour.
Why I Made the Bet
The housing affordability crisis isn’t a demand problem. It’s a production problem.
Boxabl was one of the few companies attacking construction cost at the root — the manufacturing process itself. That’s the kind of structural thesis I look for after 30+ years of building and investing in businesses: not a better mousetrap, but a fundamentally different factory.
Their flagship product, the 361-square-foot Casita, is a fully equipped studio unit with a complete kitchen, bathroom, and utilities. They’ve since added the smaller Baby Box and are developing stackable, connectable models for larger residential structures.
I invested early because I saw Boxabl’s potential to address affordable housing. The public listing is a milestone, not the finish line — the addressable problem, attainable housing at scale, is still almost entirely unsolved.
What This Teaches About Early-Stage Investing
Early-stage investing is about seeing the business the founder is building five years before the market prices it.
Most investors want proof. The returns go to the people who can underwrite the thesis before the proof exists — and who have the discipline to hold through the messy middle.
That’s the same lens I bring to every engagement at Ritch Ventures: distressed acquisitions, turnarounds, and capital strategy for early-stage companies. Find the inflection point. Underwrite the thesis. Structure the capital. Stay disciplined.
Congratulations to the entire Boxabl team on reaching the public markets.
If you’re a founder building toward an inflection point — or an investor who wants to see deals before the market prices them — learn more at ritchventures.com.
This article is for informational purposes only and does not constitute investment advice or an offer or solicitation to buy or sell any security.