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SoFi Technologies, Inc. (NASDAQ:SOFI) on Wednesday announced expanded access to alternative investments through three new private market funds, including the Cosmos Fund which exclusively owns SpaceX shares.
What you need to know: SoFi said it conducted a survey showing that more than 87% of investors are interested in investing in private companies with Open AI, SpaceX And Epic games ranked as the top three private companies with the most interest from private investors.
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SpaceX, led by Elon Muskhas 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 only holds shares of SpaceX.
Through a collaboration with TemplumSoFi Invest members who are accredited investors can now invest in the Cosmos Fund, the Pomona Investment Fund And StepStone Private Markets fund.
“Historically, the private investor community has had few opportunities to invest in private companies, but we strongly believe this will increase access to potentially valuable opportunities,” said Anthony NotoCEO of SoFi.
“Today marks another milestone in our journey to help SoFi members achieve financial independence by giving them the opportunity to invest in some of today’s most sought-after private 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 December 4 through December 19.
Investors can also access SpaceX through the Ark Venture Fund which has invested 12.4% of its assets in SpaceX and also owns shares of OpenAI and Epic Games. All SoFi investors can access the Ark Venture Fund through SoFi’s brokerage platform.
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