Cathy Wood, CEO and Chief Investment Officer, Ark Invest, speaks during the Milken Institute Global Conference on May 2, 2022 in Beverly Hills, California.
Patrick T. Fallon | AFP | Getty Images
Cathy Wood’s Arc Invest has launched a new venture capital fund, targeting individual investors with a minimum investment of just $500.
The company said Tuesday that its actively managed ARK Venture Fund invests in 70% of private companies and 30% of public companies focused on technology-enabled innovation, and selectively in other venture capital funds. The fund is initially available to individual investors through investment app Titan, a startup backed by Andreessen Horowitz.
“We’re redoubling our efforts to innovate,” Wood said in an interview on CNBC’s “Squawk Box” Tuesday. “Ark is going from social media and social marketing to social distribution, straight to the consumer. Very exciting. We’re giving investors something they haven’t had access to before.”
The ARK Venture Fund charges a fixed management fee of 2.75%, and does not charge any carry-on interest or loading fees. Ark said the fund’s overall expense ratio is estimated at 4.22%.
ARKK’s flagship innovation fund has been underwater all year, with Wood’s darlings being one of the biggest victims of rising interest rates. ARKK is down 60% this year and away from 70% from its 52-week high in November.
from San Jose News Bulletin https://sjnewsbulletin.com/cathie-woods-new-fund-gives-small-investors-access-to-the-venture-capital-market-for-just-500/
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