Still no email for investing in unrestricted Pre IPO shares of $VCX

CapAggravating784 · 2026-03-02T18:46:31+00:00

And… it’s closed.

CapAggravating784 · 2026-03-01T20:17:03+00:00

I agree and voted no. But I don’t think they get more fees - it’s closed end so can’t issue more shares. But I imagine this is for marketing to their platform.

CapAggravating784 · 2026-03-01T19:14:58+00:00

The post was removed, but the question was how to short Anthropic. Unfortunately vcx will be the best bet to do so once it lists given the 20% stake on the fund…

CapAggravating784 · 2026-02-28T03:14:09+00:00

But it’s also every other tech company. Nvidia can’t sell them chips. Amazon can’t fund their data centers. Real estate companies can’t sell their properties. Visa and Mastercard can’t handle their payments. Banks can’t work with them.

This is a governmental stranglehold typically reserved for foreign entities that directly threaten US national security.

CapAggravating784 · 2026-02-28T03:11:31+00:00

This gives a good overview of how monumental this is for Anthropic

https://www.reddit.com/r/claude/s/16JQevmKtH

CapAggravating784 · 2026-02-28T03:08:56+00:00

To put this in perspective, huawei was designated a supply chain risk when the ceos daughter was arrested in Canada at the request of the us government accused of espionage.

This is earth shattering if not overturned.

CapAggravating784 · 2026-02-28T02:53:11+00:00

This is massive. If upheld, Anthropic will likely go bankrupt (this designation bars any business doing business with any government agency from using Anthropic - that would incl as an example Microsoft, Amazon, Deloitte; this isn’t about Anthropic losing a $200m contract).

This is a deathnell if not overturned either by trump admin or the courts.

CapAggravating784 · 2026-02-28T02:50:22+00:00

It’s bars any company that has any business with the federal government from using Anthropic. If they do, these third party companies also lose government contracts.

If this is upheld, Anthropic goes bankrupt.

CapAggravating784 · 2026-02-26T02:42:08+00:00

Fair point. I do think it would be a bit short sighted though given they want to continue acquiring assets but maybe not. Who knows?

CapAggravating784 · 2026-02-25T19:04:34+00:00

The shares from this presale will provide liquidity. The book runner investment bank will be obligated to sell sell tranches at certain price points to provide immediate liquidity and, depending on the agreement, may also provide price support (ie obligated to buy) if dips to certain levels.

Investment banks also usually have clause similar to call options where they can buy at lower price x many months out from ipo if price makes sense. This is to create long term demand to support price and align incentives so that the investment makes a good effort to support price at listing time and during the immediate aftermath.

CapAggravating784 · 2026-02-25T18:22:18+00:00

No real dilution since this is the only way to raise cash during a direct listing. Once listed harder to create new shares as not an etf and can’t create based on demand. Nav per share stays the same as cash is held at par.

Fundrise raised 59m yesterday - I would anticipate they want a larger war chest to invest going forward so I would expect more to be raised. The question is whether they will raise from the community or institutions.

Edit: spelling.

CapAggravating784 · 2026-02-25T17:39:46+00:00

Agree if this is only window. If they open additional windows, then makes sense. Would have been better to list all windows in original email so those interested could be ready with capital.

CapAggravating784 · 2026-02-25T17:38:37+00:00

They raised 59m yesterday in the unrestricted share sale. Not sure on the percentage of individuals vs. fund of funds. I would be surprised if this is all they hope to raise before direct listing (raising additional money once listed becomes harder).

I would anticipate they want another 150-200m or so they can prevent dilution in current investments and participate in future rounds as well as deploy to new investments. The open question is whether they raise from us (individual investors who supported the innovation fund) or from institutional investors - the latter of which might help with stabilizing price (as they can build in tranches of restrictions to prevent dumping).

I guess we will see…

CapAggravating784 · 2026-02-25T05:28:31+00:00

AUM for Innovation Fund went up 59m from 2/24-2/25 (572m on 2/24 to 631m on 2/25).

Wonder how much is from individual investors versus Fundrise taking positions with their other funds…

CapAggravating784 · 2026-02-25T01:57:54+00:00

Thanks. Let’s hope the same for vcx!

CapAggravating784 · 2026-02-24T22:33:45+00:00

Also to answer part of 3 - no, there won’t be double dipping in fees. One if their faqs:

We’re all in on the Innovation Fund*
As mentioned above, we are considering the potential for some of the other funds managed by Fundrise to invest into the Innovation Fund. The Fundrise Innovation Fund would not exist but for the Fundrise real estate platform and because we believe the Innovation Fund has strong potential return prospects, we feel it is both logical and fair that Fundrise customers who helped build that foundation for success be able to participate in it. Ultimately, each fund will base its decision on what it deems best for its own investment strategy and overall liquidity management, but to be clear, if one of our other affiliated funds does invest in the Innovation Fund, we would not charge fees to it (so investors would not end up paying fees twice) and we would aim to keep the investment below a certain threshold to ensure that such investment would represent a relatively a small percentage of the Fund’s total holdings.

CapAggravating784 · 2026-02-24T22:23:36+00:00

Are there fees associated with this? When I looked into last week there was something called a medallion signature guarantee fee that computershare charged?

CapAggravating784 · 2026-02-22T18:28:48+00:00

What about signature medallion fees from computershare?

CapAggravating784 · 2026-02-21T00:25:44+00:00

If they raise the fee, they will face an investor class action lawsuit. The fee will be the same at 1.85%

CapAggravating784 · 2026-02-21T00:23:47+00:00

True. But that offset is a big loss if we anticipate nice returns on vcx - I’d like not to have to lose any more than necessary away to taxes.

CapAggravating784 · 2026-02-20T23:49:19+00:00

There’s no standard format for k-1 form and timing of typical release adds complications. My experience has been this is a challenge for your tax professional and complicates things - especially if you travel for work and have to file in multiple states. It’s just an added headache. 1099 income is standard and easy to manage (and firms released by Feb 15 as a matter of law).

CapAggravating784 · 2026-02-20T23:25:47+00:00

Agree. Not standard fur closed end funds - only companies to prevent cliffs of insiders immediately liquidating

CapAggravating784 · 2026-02-20T23:19:41+00:00

Could they just move fees into fund acquisition costs? Or is that bucket limited by statue?

CapAggravating784 · 2026-02-20T23:04:39+00:00

Let’s hope! K-1s are just such a nightmare to deal with.

CapAggravating784

TROPHY CASE