D.C.-based real estate investment platform Fundrise LLC has launched a new fund that aims to make venture capital investing as accessible to small investors as its real estate funds are.
Unlike most venture capital funds, which typically attract large institutions and wealthy individuals, Fundrise’s new “Innovation Fund” will be designed to appeal to investors with more modest means.
As a crossover fund, it will invest in both private and public technology companies, focusing primarily on later-stage companies, said Fundrise CEO and co-founder Ben Miller. Fundrise is looking to raise $1 billion and Miller anticipates that much of it will come from individuals. The fund will accept investments as small as $10.
The fund’s rollout comes at a time when venture capital investing has cooled somewhat amid growing concern that the economy is headed toward — or may already be in — a recession. Still, Miller said it’s a space he had been eyeing before the slowdown and decline in company…
Read the full story from the Washington Business Journal.
