Fund With Anthropic Stake Falls in Post-Listing Turn

Fundrise Innovation Fund’s shares plunged for a second consecutive day on Friday, extending losses after a volatile post-listing period. The decline marks a sharp reversal from its initial trading surge. The fund’s value remains significantly above the net asset value of its private tech holdings, including stakes in SpaceX and Anthropic PBC. This premium persists despite the recent sell-off. Anthropic, a high-profile AI startup, is a key holding in the fund, with its potential IPO adding speculative interest. SpaceX’s valuation also contributes to the fund’s elevated market price. The drop reflects broader market caution toward pre-IPO tech investments, as investors reassess valuations amid shifting economic conditions. Volatility in such funds is increasing. Despite the decline, the fund’s long-term outlook hinges on the performance of its private tech bets, particularly Anthropic and SpaceX. Analysts are watching for stabilization signals.