Fundrise, an online investment platform, has listed its first venture fund, the Fundrise Innovation Fund (VCX), on the New York Stock Exchange (NYSE).
In an email, Fundrise stated:
“Starting today, anyone, regardless of net worth, can invest in the next generation of world-changing companies through VCX. This moment marks the culmination of nearly 15 years of work and a singular focus on empowering individual investors.”
The top holdings of VCX as of February 26 include:
- Anthropic
- Databricks
- OpenAI
- Anduril
- Ramp
- SpaceX
- Epic Games
- Flock Safety
- dbt (Fivetran)
- Vanta
The Fund charges a 1.85% fee to investors.
The inception date was actually in July 2022, but it only began trading yesterday.
As VCX has several years of performance under its belt, it can share its performance. Since its launch, it has returned 84.44%. Year to date shows a return of 13.43% and one year 63.27%.
It is still early days, but shares of VCX have popped since its listing and are currently trading at around $120 a share.
Fundrise has had an interesting odyssey since its launch as a platform to invest in individual properties, first in Washington, DC. The company was an innovator in the Reg A space, using the exemption when no one else was. Today, it is largely driven by a series of funds that focus on various real estate strategies. Moving into private securities for early-stage firms provided another asset class while leveraging in-house experience and technology. By going public, companies now have a way to exit holdings, which can be a challenge for private securities holders. This also provides a path for Fundrise to scale its services further.
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