ARK Invest Puts $1.3 Billion Venture Fund on Ethereum Blockchain
ARK Invest is bringing its ARK Venture Fund onto the Ethereum blockchain. The fund, founded by Cathie Wood, has grown to roughly $1.3 billion in assets and includes stakes in OpenAI, Anthropic, Stripe, and Databricks.
The tokenized version of the fund will be available on Ethereum at launch, handled by Securitize for onchain issuance and investor services. Investors will receive an onchain representation of their interest in the fund, not direct tokens of the portfolio companies.
The ARK Venture Fund is a closed-end interval fund that invests in both private and public companies, with a target mix of 80% private and 20% public. It offers quarterly repurchase windows for about 5% of outstanding shares, but investors cannot sell shares at will.
'Tokenizing the ARK Venture Fund puts our conviction in the evolution, if not revolution, of capital markets into practice,' said Wood.