Fundrise Growth Tech Interval Fund, LLC
Last Updated 04/05/2023
This fund recently launched or we are in the process of collecting the data
Shows hypothetical growth of $1000 since inception
Nav Per Share
0%
Current Yield
0.00%
Total Return
05/11/2022
Inception
$35,104,006
Total Managed Assets*
Not Available
Ticker
$1,000
Minimum Investment
%
Net Expense Ratio
*represents total managed funds for the fund complex
About The Fund
Overview: The Fundrise Growth Tech Interval Fund, filed on 6/17/2021, represents the second interval fund filed by Fundrise, LLC. Their first was the Fundrise Real Estate Interval Fund which held over $275m in assets as of 6/30/2021.
While Fundrise built a brand on offering retail investors fractional shares of real estate investments through a series of REITs and their first interval fund, the Fundrise Growth Tech Interval Fund is focused on private investments into pre-IPO, late-stage technology companies.
The move may appear to be a departure from Fundrise's core business, but their parent company Rise Companies Corp.'s mission focuses on expanding retail investor access to alternative asset investing, and they don't box themselves into the real estate sector. As such, Fundrise is well positioned to leverage their existing distribution channels, investor engagement platform, and automated compliance tools to gain a foothold in this space.
The space itself is ripe for competition. At a time when the SEC is asking Congress for additional resources to manage a surge of IPOs, only one other interval fund offers retail investors similar access to pre-IPO companies - the Private Shares Fund (PRIVX), formerly known as the SharesPost 100 Fund.
From the fund's prospectus:
The Mission: Rise Companies Corp. (“Rise Companies”), the Fund’s sponsor, owns and operates through its subsidiary Fundrise, LLC, an investment platform available both online at www.fundrise.com and through various mobile applications sponsored by Rise Companies (collectively referred to herein along with the Fund’s website www.fundriseintervalfund.com, the “Fundrise Platform”). Rise Companies believes in leveraging technology to build a better financial system that empowers individuals. With technology, Rise Companies can create a more efficient mechanism than the conventional financial system to invest in alternative assets. Please see “Plan of Distribution” for more information on Rise Companies’ mission to make alternative asset investing easier and more efficient for retail investors.
Investment Strategies: Under normal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in the securities of technology and technology-related companies (referred to herein as “technology companies”) and other investments (including derivatives) that provide the Fund with economic exposure to technology companies. Technology companies include companies operating in the information technology and telecommunication services sectors and companies operating in the following industries: internet and catalog retail; media; electrical equipment; biotechnology; health care equipment and supplies; and health care technology. Technology companies may also include, in the judgment of the Fund’s investment adviser, companies operating in other sectors, sub-sectors and industries.
Notwithstanding the occurrence of such a liquidity event, the Fund may continue to hold securities of Portfolio Companies after those companies have gone public. This investment strategy is generally referred to as “Buy and Hold”.
Fund Materials
Fund Class Docs
HISTORICAL DATA
Percentage and dollar changes represent the increase or decrease in the NAV from the preceding trading day.