https://preview.redd.it/lsitl0671vqg1.png?width=1039&format=png&auto=webp&s=afca797c9ad12da5616abda8ff277ddfc4071ab0
Fundrise Innovation Fund (VCX) listed on March 19th and **went parabolic up 6x from the opening price of $34 (last traded at 190, NAV is $20**). I was an early investor (pre-listing), have many good things to say about the Fundrise platform and this has only strengthened my conviction in this trade. I have since researched opportunities for getting more exposure via an instrument that is not so volatile (VCX is being newly listed). I have come across DXYZ which is the older fund. The comparative portfolios for the two are:
**DXYZ (**[**https://destiny.xyz/tech100**](https://destiny.xyz/tech100)**):**
**Anthropic 22% (100 million of the 438 million fund)**
**SpaceX 16.2%**
**Databricks 4.0%**
**xAI 3.5%**
**OpenAI 2.1%**
\*\*NOTE: I have calculated the Anthropic percentage based on the SEC filings for the fund. They haven't advertised them as such on the website since their N-PORT is only due quarterly with a 60 day delay.
[https://www.sec.gov/Archives/edgar/data/1843974/000157587226000064/dxyz096\_424b3.htm](https://www.sec.gov/Archives/edgar/data/1843974/000157587226000064/dxyz096_424b3.htm)
"On January 26, 2026, we invested $100.0 million in Magnitude ANC III, LLC (economic exposure to Anthropic PBC Series B Preferred Shares)."
**VCX** [**(https://fundrise.com/vcx**](https://fundrise.com/vcx)**) has:**
**Anthropic 20.7%**
**Databricks 17.7%**
**OpenAI 9.9%**
**Anduril 6.9%**
**SpaceX 5.0%**
As one can see there is a significant overlap between the holdings of these funds and the prices should be correlated. **The current NAV for DXYZ is $19.97 from December 2025 and does not incorporate updates from the funding rounds of SpaceX, xAI, Databricks and OpenAI (Being a holder of VCX I got those in Jan and Feb). My rough estimate for the current NAV is \~$22. It is currently trading at $24.** This is a very attractive entry point if you consider the fact that this has always traded at high premiums (20x at the highest, but 30-50% in saner markets due to lack of access to AI/SpaceX exposure). With SpaceX and AI company IPOs projected for the near future I only see the upside for the NAV and the downside I believe is very well protected. We may run out of time to get a better entry point.
I think this is a very good relative value buy. DXYZ itself listed at $4.84 less than 2 years ago and the NAV has grown 4x.
As I have mentioned I already hold VCX and have now taken a significant position in DXYZ. Use your own judgement and analysis. I think this is a good trade if you believe in the AI narrative (the risks/rewards of which have been discussed a plenty on subs here as well as the constant 24x7 business news).