Want to Invest in the Hottest Upcoming IPOs Now, Including SpaceX, Anthropic, and OpenAI? This Is the Fund for You.

If you're eager to start investing in some of the hottest upcoming initial public offerings (IPOs) -- including SpaceX, Anthropic, and OpenAI -- you don't have to wait for them to debut to get some exposure to them. You can get access to them through the ARK Venture Fund (NASDAQMUTFUND: ARKVX).

The fund invests in both private and public companies with disruptive technology, and nearly 80% of its holdings are in private companies. SpaceX is its top one, accounting for 13.8% of its portfolio. That's followed by OpenAI, which represents 9.3% of its holdings, and predictions-market operator Kalshi, at 4.3%. Anthropic is at 3%.

Once one of these private companies goes public, the ARK Venture Fund doesn't necessarily divest its holdings. If a major IPO balloons the value of a public position, the fund's managers may strategically reduce the newly public holding post-lockup, reinvesting the capital into private ventures to rebalance the overall portfolio.

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The ARK Venture Fund, operated by Cathie Wood's Ark Invest, is not your ordinary investment. It's easy to get into the fund, but not as easy to get out. Investors can buy into the fund with as little as $500 through the SoFi and Titan apps, either in a standard brokerage account or in an individual retirement account.

However, it's structured as a closed-end mutual fund, and redemptions can only be made quarterly. It makes quarterly repurchases up to 5% of the fund's net asset value, and as such is considered an illiquid investment.

Investing in the fund is also pricey. It comes with a 3.49% annual expense ratio, although with a current contractual fee waiver, it's 2.9%. Compare that to the Vanguard S&P 500 ETF, which has an annual expense ratio of just 0.03%. But for ARK's price, you can invest in these private companies, which are typically not available to the average investor.

The ARK Venture Fund has been a strong performer since it debuted in September 2022. As of the end of March 2026, it has an average annual return of 29.1% since its inception. Over the past three years, it's averaged a 35% return, while it's up more than 70% over the past year and 12% in 2026.

Should investors buy the ARK Venture Fund?

Whether the ARK Venture Fund should be in your portfolio depends on a few things. First, if you need the money in the near future or may need access to it for an emergency, then it's not an investment for you. It could take some time to get the money out of the fund. Meanwhile, if you have a low risk tolerance, this also isn't the fund for you.

However, if you want to try to get in on some cutting-edge companies before they go public and have a long time horizon, this is an interesting investment vehicle. Right now, it has some exciting companies in its portfolio, so this could be a good time to still get in.

Geoffrey Seiler has positions in Vanguard S&P 500 ETF. The Motley Fool has positions in and recommends Vanguard S&P 500 ETF. The Motley Fool has a disclosure policy.