SoFi Technologies, Inc. (NASDAQ:SOFI) announced expanded access to alternative investments on Wednesday through three new private market funds, including the Cosmos Fund which exclusively holds SpaceX stock.
What To Know: SoFi said it conducted a survey that found more than 87% of investors have an interest in investing in privately held companies with Open AI, SpaceX and Epic Games ranking as the top three private companies with the most retail investor interest.
SpaceX, led by Elon Musk, has an estimated valuation of more than $200 billion, but it is not a publicly traded company. However, the company has an internal trading program that allows employees and existing investors to buy and sell shares and the Cosmos Fund holds only SpaceX stock.
Read Next: Friday’s Top 5 Trending Stocks: What’s Going On With SoundHound AI, GameStop, Lululemon?
Through a partnership with Templum, SoFi Invest members who are accredited investors can now invest in the Cosmos Fund, the Pomona Investment Fund and StepStone Private Markets Fund.
“Historically, the retail investor community has had few opportunities to invest in privately held companies, but we firmly believe in broadening access to potentially valuable opportunities,” said Anthony Noto, CEO of SoFi.
“Today marks yet another milestone on our path to helping SoFi members achieve financial independence by giving them an opportunity to invest in some of today’s most sought after privately held companies,” Noto added.
What Else: There are some requirements for investing in the Cosmos Fund through SoFi, including a minimum investment of $25,000 and an offering period that runs from Dec. 4 through Dec. 19.
Investors can also access SpaceX through the Ark Venture Fund which has 12.4% of its assets invested in SpaceX and also holds shares of OpenAI and Epic Games. All SoFi investors can access the Ark Venture Fund through SoFi's brokerage platform.
Read Next:
- UnitedHealthcare CEO Brian Thompson Fatally Shot Outside NYC Hotel
Photo: Shutterstock
