Retail investors typically miss out on pre-IPO opportunities reserved for venture capitalists and institutional players, but a new fund offers a workaround. The Ark Venture Fund (ARKVX) provides everyday investors with exposure to three of the most anticipated initial public offerings on the horizon: SpaceX, OpenAI, and Anthropic. All three companies could launch IPOs before the end of 2026, making this fund a potential gateway to early ownership stakes in some of technology's most valuable private companies .

What Are These Three Companies Worth Right Now?

SpaceX, founded by Elon Musk in 2002, designs and manufactures reusable rockets and spacecraft. The company generated approximately $16 billion in revenue and about $8 billion in profit last year, according to Reuters. However, SpaceX recently merged with xAI, and the combined entity is targeting an IPO valuation of up to $2 trillion, a dramatic leap from its December 2025 valuation of $800 billion .

OpenAI, the artificial intelligence research company behind ChatGPT, has experienced explosive growth. In February 2026, OpenAI's annual revenue run rate topped $25 billion, up 17% from $21.4 billion at the end of 2025. The company closed its most recent funding round with a post-money valuation of $852 billion, though internal forecasts show revenue could hit $175 billion by 2029. OpenAI currently makes most of its money from consumer subscriptions but expects enterprise revenue to accelerate significantly in coming years .

Anthropic, founded in 2021 by former OpenAI employees, has grown even faster in percentage terms. In April 2026, Anthropic's annual revenue run rate topped $30 billion, up more than 200% from $9 billion at the end of 2025. This dramatic acceleration followed the January release of Claude Cowork, a digital assistant that automates tasks across sales, marketing, data analytics, and product management. Anthropic closed its most recent funding round with a post-money valuation of $380 billion and projects revenue reaching $150 billion by 2029 .

How to Access Pre-IPO Investments Through the Ark Venture Fund?

• Fund Structure: The Ark Venture Fund currently holds positions in 68 public and private companies, with more than 40% of assets concentrated in the top five holdings, including SpaceX at 17%, OpenAI at 11%, and Anthropic at 4%.
• Limited Availability: Retail investors can only purchase shares through SoFi and Titan Global Capital Management, though registered investment advisors can access the fund through brokerages like Charles Schwab and Fidelity.
• Quarterly Liquidity: As an interval fund, the Ark Venture Fund does not allow investors to sell shares whenever they want; instead, Ark provides liquidity four times per year through quarterly share repurchases.
• Cost Consideration: The fund carries a hefty gross expense ratio of 3.49%, which is significantly higher than typical index funds but reflects the illiquidity and active management of private company investments.

The Ark Venture Fund represents one of the few accessible pathways for retail investors to gain exposure to private companies before they go public. However, potential investors should understand the trade-offs involved. The 3.49% annual expense ratio is substantially higher than traditional mutual funds, and the quarterly liquidity restriction means you cannot access your money on demand if market conditions change or you need capital elsewhere .

The timing of these potential IPOs matters significantly. SpaceX has already filed necessary paperwork with the Securities and Exchange Commission, suggesting a near-term public offering is possible. OpenAI and Anthropic have not yet filed, but both companies are on trajectories that could support public markets within the next several months. For investors willing to accept the restrictions and costs, the Ark Venture Fund offers a rare opportunity to own pieces of companies that could reshape technology, space exploration, and artificial intelligence for decades to come .