ARK Invest is betting big on private tech companies.
“This is a great time to invest in innovation,” Brett Winton, the company’s chief futurist, said on CNBC’s “ETF Edge” this week. “Both venture capital firms and public innovation companies are incredibly valuable long-term investments today.”
Winton worked with the ARK Invest team to launch the ARK Venture Fund (ARKVX), a closed-end interval fund, in September 2022.
Closed-end interval funds allow investors to invest in private companies at their net asset value at any time, regardless of market volatility. Investors can then sell back to the fund on a quarterly basis over certain periods of time.
According to the ARK Invest website, the fund’s largest private holdings as of April 10 were Epic Games, SpaceX, Freenome and Anthropic.
“Interval funds were created specifically to allow ordinary investors to invest in less liquid assets,” Winton said. “You don’t have to be an accredited investor… and you can invest at net asset value.”
As of Thursday’s close, ARK’s venture capital fund was up 29% since its inception. However, since the beginning of the year it has decreased by more than 7%.
Denial of responsibility