Investor Cathie Wood is launching a tokenized venture fund that offers exposure to private companies such as OpenAI and Anthropic, and trades 24 hours a day, seven days a week.
Wood’s company Ark Invest has introduced its new “ARK Venture Fund” (ARKVX) that uses infrastructure provided by Securitize (NYSE: $SECZ).
The new fund will initially run on the Ethereum (CRYPYO: $ETH) blockchain, with other networks potentially following, said Ark Invest in a statement.
“Making the ARK Venture Fund available onchain is a natural extension of our mission to democratize access to technologically enabled disruptive innovation,” said Wood.
Ark Invest is joining a rush on Wall Street to tokenize assets and put them on blockchain rails. Advocates say this will enable around the clock trading and faster transactions and settlement.
The new fund will be actively managed and include both private and publicly traded companies. Investors in the fund will receive a blockchain-based representation of their interest in the fund.
The fund will provide a daily net asset value (NAV) reading and offer investors exposure to private companies that also include Stripe and Databricks.
Ark Invest is itself a private company that offers exchange-traded funds (ETFs) that are primarily focused on innovative companies and disruptive technologies.
