ARK Venture Fund offers retail access to private companies including SpaceX, OpenAI, and Anthropic before their IPOs

The ARK Venture Fund, operated by Ark Invest, holds nearly 80% of its portfolio in private companies. SpaceX is its largest position at 13.8% of the fund, followed by OpenAI at 9.3% and Anthropic at 3%.

The fund is structured as a closed-end mutual fund with quarterly redemptions only (up to 5% of net asset value), making it illiquid. It charges a 3.49% annual expense ratio (currently 2.9% with a fee waiver), compared to 0.03% for the Vanguard S&P 500 ETF. Investors can buy in with as little as $500 through SoFi and Titan apps.

Since its debut in September 2022, the fund has delivered an average annual return of 29.1% through the end of March 2026, with 35% average return over the past three years and over 70% return over the past year.