Wood moved Ark Invest from New York City to St. Petersburg in 2021<\/a>.\u00a0<\/p>\nIt took the fund two years to reach its first $100 million in assets under management, but subsequent demand accelerated rapidly \u2014 hitting the $1 billion milestone in approximately 18 months, the announcement says.\u00a0<\/p>\n
\u201cThat is exponential growth, and it reflects the conviction of a growing community of investors who believe, as we do, that some of the most transformative companies in the world should be accessible to everyone,\u201d the announcement says.\u00a0<\/p>\n
The fund holds positions in multiple companies that align to its theme of \u201cdisruptive innovation,\u201d including OpenAI, Anthropic, Epic Games, Figure AI and Neuralink. SpaceX currently represents its largest holding.\u00a0<\/p>\n
Ark defines these disruptive innovations as the \u201cintroduction of a technologically enabled new product or service that potentially changes the way the world works.\u201d<\/p>\n
Ark Venture Fund allows investments with a significantly lower minimum entry point than traditional capital funds, its website says. It is an actively managed, evergreen interval fund with both accredited and non-accredited investors.\u00a0<\/p>\n
\u201cWe set out to do something venture capital had never done before: open the doors of one of the world’s most exclusive asset classes to every investor, not just the privileged few,\u201d the announcement says. \u201cThis milestone is a signal from investors of all kinds that the democratization of venture capital is not just possible. It is happening.\u201d<\/p>\n
\u00a0<\/p>\n
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