VCX: Fundrise Lists Venture-Focused Fund on NYSE

fundraisingOnline investment platform lists its first venture fundFundraising Innovation Fund (VCX)on New York Stock Exchange (NYSE)

Fundrise stated in an email:

“Starting today, anyone, regardless of net worth, can invest in next-generation world-changing companies through VCX. This moment marks the culmination of nearly 15 years of work and a singular focus on empowering individual investors.”

As of February 26, VCX’s largest holdings include:

• anthropic
• data bricks
• OpenAI
• on sensor
• Ramp
• SpaceX
• Epic Games
• Herd Safety
• dbt (Fivetran)
• boasts

The fund charges investors a 1.85% fee.

The start date was actually July 2022, but it only started trading yesterday.

VCX has several years of performance so it can share its performance. It has returned 84.44% since its launch. The year-to-date return is 13.43% and the one-year return is 63.27%.

It’s early days yet, but VCX’s shares have soared since listing and are currently trading at $120 per share.

Fundrise has had an interesting journey since it first launched in Washington DC as a platform for investing in individual properties. The company was an innovator in the Reg A space for which no other exemption was available. Today, it is largely driven by a number of funds focused on various real estate strategies. For early-stage firms, the move into private securities has provided another asset class while leveraging in-house experience and technology. By going public, companies now find a way to exit holdings that can be challenging for private security holders. This also provides a way for Fundrise to further scale its services.