The public ticker for private techSM

VCX intends to be a NYSE-listed public venture fund that gives you access to top private tech companies, from AI to space exploration, in a single investment.

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Democratizing venture capital

Everyday Americans are getting locked out of a once-in-a-generation wealth event

For generations, everyday Americans could be part of the companies that were driving the country forward.

However today, the most important technology companies are staying private longer, which means everyday investors are being left behind.

VCX changes that, giving individuals the ability to invest in tomorrow’s great technology companies today.

About VCX

Overview

The Fundrise Innovation Fund (Ticker: VCX) is designed to deliver long-term growth from a diversified portfolio of technology companies. The fund is focused on investing in potentially high-growth private technology businesses.

VCX takes a “multi-stage” approach, investing across the lifecycle of a private company – from early to late stage and continuing to hold after any potential IPOs. The fund invests across thematic sectors including artificial intelligence (AI) and machine learning (ML), data infrastructure, vertical and horizontal software, and other categories with attractive long-term growth potential.

Learn more about Fundrise

Fund Details as of 2/15/26
TickerVCX
Listing venueNYSE
AdvisorFundrise Advisors
Inception dateJuly 2022
Annual management fee1.85%

Portfolio

Portfolio construction is actively ongoing and specific percentages are expected to change as additional investments are made. Data based on holdings as of February 15, 2026.

Top 10 holdings

as of 2/15/26
RankCompany NamePercentage
1Anthropic20.7%
2Databricks17.7%
3OpenAI9.9%
4Anduril6.9%
5Ramp5.1%
6SpaceX5.0%
7Epic Games3.5%
8Flock Safety3.0%
9dbt (Fivetran)2.8%
10Vanta1.9%

Sector breakdown

SectorPercentage
Artificial Intelligence43.8%
Data Infrastructure22.9%
Fintech5.2%
Aerospace5.0%
Gaming3.5%
Vertical / Horizontal Software3.1%
Healthcare1.5%
Prop Tech1.4%
Other (Net Cash*, Fixed Income)13.6%

Private/public breakdown

TypePercentage
Private85%
Public1%
Other (Net Cash*, Fixed Income)14%
*Net of accrued liabilities and fund debt

Performance

Fundrise Innovation Fund (VCX)

3 months
21.21%
YTD
13.43%
1 year
63.27%
Since inception
84.44%

For periods ended 1/31/26. Returns shown are cumulative gross returns for the period presented. Returns are a sum of net asset value appreciation and dividends.

Hypothetical growth of $10,000

Hypothetical performance of investment between Jul 2022 and today with dividend reinvestment enabled. Past performance does not guarantee future results.

Initial investment value

$10,000.00

Total appreciation

$9,030.92

Total distributions1

$225.92

Current investment value

$19,256.84

Value
$19,256.84
Contribution
$10,000.00
Net Return
$9,256.84
Created with Highcharts 9.0.12023202420252026$9k$10k$11k$12k$13k$14k$15k$16k$17k$18k$19k$20k

Past performance is not indicative of future results.

The performance assumptions shown in each of these charts are for illustrative purposes only, should not be relied on for any other purpose, and are not intended to reflect the actual experience of any individual investor. These values indicate returns based on net asset value and may not accurately reflect the amount that might be paid for your shares in a market transaction. Closed-end funds frequently trade at a discount to their net asset value.

Value chart: This chart shows the hypothetical growth of an investment in this offering over the period indicated, assuming dividend reinvestment.

Net return chart: This chart shows the hypothetical returns on an investment in this offering over the period indicated, assuming dividend reinvestment.

Onward Podcast

Insights

Onward is a Fundrise podcast offering unique insights and perspectives from company co-founder and CEO Ben Miller and guests.

New

In case you missed it: Watch the first Innovation Fund Investor Day

Watch the full recording as our leadership team lays out the vision for our Public Venture Capital (PVC) fund.

Literature

All investors should consider the investment objectives, risks and charges and expenses of the Fund carefully before investing. Information regarding such considerations, including the prospectus of the ‘40 Act registered fund may be found below. Investors should read the prospectus carefully before investing.

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There are no guarantees investment holdings of the Fundrise Innovation Fund will be successful or perform similarly to the company featured. Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.

The Fund is a non-diversified closed-end investment company registered under the Investment Company Act of 1940, as amended. Investing in Shares is speculative and involves substantial risks. You should purchase Shares of the Fund only if you can afford a complete loss of your investment. Any historical returns, expected returns or probability projections are hypothetical in nature and may not reflect actual future performance. Account holdings are for illustrative purposes only and are not investment recommendations. Closed-end funds frequently trade at a discount to their net asset value.

Past performance does not guarantee future results. Current and future holdings are subject to risk. Returns of one company are not indicative of an investment in the fund. To obtain fund performance click here. The fund's most recent schedule of investments is available here.

Investors should consider the Fund's investment objectives, risks, charges, and expenses before investing. This information is included in the Fund Prospectus and can be accessed by calling (202) 804-0023. Read the prospectus carefully before investing.

Fund shares are not guaranteed or endorsed by any bank or other insured depository institution and are not federally insured by the Federal Deposit Insurance Corporation. Shares of a non-diversified fund may rise and fall more than the value of shares of a fund that invests in a broader range of securities. The Fund's portfolio will be concentrated in securities issued by technology companies and other investments that provide economic exposure to technology companies and as such, it may be subject to more risks than if it were broadly diversified across additional sectors and industries of the economy. Certain technology companies may face special risks that their products or services may not prove to be commercially successful. Technology companies are also strongly affected by worldwide scientific or technological developments, and as a result, their products may rapidly become obsolete. The Fund's investments in companies involved in, or exposed to, artificial intelligence-related businesses may be negatively impacted because of, among other things, limited product lines, markets, financial resources and/or personnel; intense competition and potentially rapid product obsolescence these companies may face; loss or impairment of intellectual property rights; and the inability to successfully develop products or services even after spending significant amount of resources.

The Fund's investment in private company securities, whether made directly or indirectly (e.g., through derivatives or private pooled investment vehicles) are generally illiquid. Because private company securities are thinly traded, such securities may display especially volatile or erratic price movements, sometimes in response to relatively small changes in investor supply or demand or other market conditions.

  1. Distribution payments are not guaranteed. The Fund may pay distributions from sources other than net investment income and capital gains, including, without limitation, the sale of assets, borrowings, return of capital (ROC) or offering proceeds, and advances or the deferral of fees and expense reimbursements.

    Based on current estimates, it is expected that amounts distributed to investors would include a return of capital. ROC should not be confused with yield or income. The Return of Capital amount is 100% based on the recent 19(A) notice. There can be no assurance that a change in market conditions or other factors will not result in a change in the Fund distribution rate at a future time.

Annualized distribution rate is calculated by annualizing the current day's declared distribution rate, divided by the current day's net asset value per share.

Distribution rate is calculated by dividing the dividends earned on one share in a given month by the NAV per share at the end of the previous month.

A portion of distributions may be a direct result of expense support payments provided by Fundrise Advisors, which are subject to repayment by the Fund within three years. The purpose of this arrangement is to ensure that the Fund bears an appropriate level of expenses. Any such distributions may not be entirely based on investment performance and can only be sustained if positive investment performance is achieved in future periods and/or Fundrise Advisors continues to make such expense support payments.

Future repayments will reduce cash otherwise potentially available for distributions. There can be no assurance that such performance will be achieved in order to sustain these distributions. Fundrise Advisors has no obligation to provide expense support payments in future periods.

By using this website, you accept our Terms of Service and Privacy Policy. The originating advertising material was sponsored and paid for by the Fundrise Innovation Fund, LLC. The originating advertising material is a paid endorsement. Nothing in the advertising material should be construed as tax advice, an offer, recommendation, or solicitation to buy or sell any security. All investing includes risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Innovation Fund, LLC before investing.

© 2026 Fundrise Innovation Fund, LLC. All rights reserved.