VCX - Fundrise Innovation Fund, LLC

What this means for you

No investor has reported owning 5% or more of this fund. That is the normal state for most closed-end funds.

Nothing is required of you. If that changes, the notice appears here within a day of being filed with the regulator.

Email me if this changes

What happened, and when

1. Sept 10, 2026

   The fund said it may sell new shares.

   Original document →

2. Sept 9, 2026

   The fund said it may sell new shares.

   Original document →

3. March 9, 2026

   The buy-back ended; the fund paid $18.26 a share.

   Original document →

4. Feb 3, 2026

   The fund said it may sell new shares.

   Original document →

5. Jan 30, 2026

   The fund is holding its regular buy-back: up to 5% of shares at the value of the holdings, until Feb 28, 2026.

   Original document →

About this fund

• Run by Fundrise Advisors LLC. Part of the FUNDRISE FUND COMPLEX fund family. As of March 31, 2026, from the fund's yearly report. Original document →
• Size: about $777 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 4% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.9% a year in management fees; 2.5% a year in total, including interest on borrowed money. Fiscal year ended March 31, 2026. As of March 31, 2026, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended March 31, 2026) the fund paid $0.21 a share, all of it from gains. As of March 31, 2026, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (March 31, 2026): $18.97. The shares traded at $130.95, about 590.3% above that. As of March 31, 2026, from the fund's yearly report. Original document →
• How the holdings did: up 14.4% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +77.9%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended March 31, 2026): the value of the holdings returned +68.4%. How the share price did: the shares returned +319% over the same year, counting payouts and the change in the market price. As of March 31, 2026, from the fund's annual report. Original document →
• First reported to the regulator in 2021.

What the fund holds

Mostly other holdings (86%), the rest mortgage bonds and cash and short-term holdings. About 100% issued in the U.S.

1. SaxeCap Advisors VIII, LP - 16.5%
2. AI Growth GRT, LLC - 9.3%
3. Quiet OA Access LP - 8.3%
4. AI Access 12, LLC - 5.9%
5. SP Private Investments XIII, LLC - 4.3%
6. Databricks, Inc. - 3%
7. Ai-Llm, LLC - 3%
8. 8VC Anse Spv, LP - 2.8%
9. HOF Capital AP Growth, LLC - 2.5%
10. Fstk Fr, LP - 2.5%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →