Invest in SpaceX, OpenAI, Anduril, & Anthropic!?!
The Fundrise Innovation fund promises access to a basket of exciting private companies: Databricks, OpenAI, Anthropic, Anduril, and SpaceX! But there's always a catch. In this case, it's a complex and potentially shady structure that $VCX uses to invest in these hot startups called "Special Purpose Vehicles." Many SPVs have historically been linked to allegations of fraud, and some don't actually represent ownership in the companies they're said to hold. If that weren't enough of a showstopper, the fund also trades at an exorbitant premium to its intrinsic value.
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The skinny
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