SpaceX Isn't on the Market Yet, but Here's How You Could Invest in the Company Before Its IPO

When it comes to non-NASA space exploration and infrastructure, SpaceX sits at the top of the list. And recently, it has been getting a lot of attention because of the anticipation of its initial public offering (IPO). The company hasn't officially set a date, but the IPO chatter is getting louder by the day.

When SpaceX goes public, it has a good chance of being the largest IPO in history. Some reports say the company is targeting a valuation of $1.75 trillion to $2 trillion.

While SpaceX is aiming for its IPO in mid-2026, investors can still grab a stake in the company by investing in companies or funds that hold positions in it. If you're interested in SpaceX, consider the following four.

Image source: Getty Images.

Alphabet has much to gain from SpaceX's IPO

Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) has had an interest in SpaceX for over a decade, making its initial investment in January 2015. The investment was $900 million at a time when SpaceX was valued at around $12 billion.

At the time, that gave Alphabet around a 7% stake in SpaceX. It has since been diluted, but it was at 6.1% at the end of 2025. If SpaceX were to hit its $1.75 trillion to $2 trillion valuation, Alphabet's investment would be worth well over $100 billion.

Given its high stake in SpaceX, Alphabet is the most direct and accessible way to benefit from SpaceX's growth without being able to invest in it directly.

Baron Partners Fund

The Baron Partners Fund (NASDAQMUTFUND: BPTRX) is essentially the "We're betting on Musk" fund. The fund's top two holdings are SpaceX and Tesla, accounting for 33% and 20% of the fund, respectively.

With SpaceX accounting for around a third of the fund, the Baron Partners Fund has the highest exposure to SpaceX that you'll find among funds on the market.

The minimum initial investment you can make is $2,000, or $500 if you set up automatic investments.

ARK Venture Fund

ARK Venture Fund (NASDAQMUTFUND: ARKVX) is a public venture capital fund started by Cathie Wood's Ark Invest. It's actively managed and includes companies that fit its theme of "disruptive innovation."

SpaceX is ARK Venture's largest holding, accounting for 17% of the fund. It leads popular AI companies like OpenAI (11.5%), Anthropic (3.5%), and Databricks (3.2%).

ARK Venture is a closed-end interval fund, so you won't be able to simply sell your shares whenever you like; the fund allows repurchases of up to 5% of its outstanding shares quarterly. The minimum initial investment is $500.

Destiny Tech100

Destiny Tech100 (NYSE: DXYZ) is an ETF focused on building a portfolio of "100 of the top venture-backed private technology companies." It currently has 32 companies in its portfolio, with SpaceX as the largest holding at 16%.

Right now, 47% of the fund is held in cash equivalents, but I'd imagine that the fund keeps SpaceX as its largest holding given the gap between it and its second-largest holding, Shield AI (4%).

Don't let SpaceX be your only investment reason

Although SpaceX seems to be one of the hottest companies around right now, I wouldn't invest in Alphabet or these three ETFs only because of their stake in SpaceX. If you choose to invest in them, it should be an added bonus, not the driving cause.

There are aspects of SpaceX to like. It had the most commercial rocket launches in the country last year; it owns Starlink, which is growing impressively and has over 9 million subscribers; and it now owns xAI, the AI company that owns X (formerly Twitter).

There are also aspects of SpaceX that should make investors hesitant right now, including the billions the company continues to lose. Granted, SpaceX won't be the first, nor will it be the last, company to IPO while bleeding billions. But with a potential $2 trillion valuation -- which would make it the sixth-most-valuable company in the world as of market close on April 15 -- that should be a cause for concern.

Either way, the stocks and funds above provide exposure to SpaceX pre-IPO. Just be sure you're prepared for the high volatility we're likely to see and the extremely high fees they come with (aside from Alphabet).

Stefon Walters has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.