News
Fundrise Growth Tech Fund trades at 30x premium as investors chase pre-IPO AI shares
Friday, March 27, 2026 at 07:27 AM
The Fundrise Growth Tech Fund (VCX) has seen its share price surge over 1,300% in five trading days, reaching $575. Despite a net asset value (NAV) of only $19 per share, investors are paying a 30x premium to gain indirect exposure to unlisted AI and defense tech leaders, including Anthropic (21% of the fund), Databricks (18%), OpenAI (10%), and SpaceX (5%).
Context
The Fundrise Growth Tech Fund (VCX) experienced a historic market debut on the NYSE in March 2026, with its share price surging over 1,300% within its first five trading days. Originally opening near $42 on March 19, 2026, the fund reached an intraday high of $575 by March 27, driven by intense retail demand for access to high-profile private companies. This rally has created a massive dislocation between the fund's market price and its actual holdings, with investors paying a 30x premium over its reported Net Asset Value (NAV) of approximately $19 per share.
The frenzy is largely attributed to the fund's portfolio of pre-IPO AI and aerospace giants, including Anthropic (21%), Databricks (18%), OpenAI (10%), Anduril (7%), and SpaceX (5%). Because most existing shares are subject to a six-month lockup ending in September 2026, a severe supply-demand imbalance has allowed speculative trading to push the market capitalization to roughly $19 billion, despite the underlying assets being worth only $650 million.
Sources (6)
Fund With Stakes in SpaceX and Anthropic Jumps 1,200% Above NAV - BloombergFundrise Growth Tech Fund, LLCFundrise Growth Tech Fund, LLC - Common Shares (INNOX) Latest Prices, Charts & News | NasdaqVCX by FundriseStay Humble After a Large Investment Win: Scrub A Toilet - Financial SamuraiFundrise’s venture fund, which owns private tech giants like Anthropic and SpaceX, surges as retail investors pile in - Sherwood News
Related Companies
Fundrise