Cathie Wood’s Ark Make investments launched a new enterprise capital fund, concentrating on particular person investors with a minimal funding of just $500.
The actively managed ARK Enterprise Fund invests in 70% personal firms and 30% public companies targeted on technologically enabled innovation, and selectively in different enterprise capital funds, the firm mentioned Tuesday. The fund is accessible to particular person investors initially by investing app Titan, a startup backed by Andreessen Horowitz.
“We are doubling down on innovation,” Wooden mentioned in an interview on CNBC’s “Squawk Box” Tuesday. “Ark is moving from social media and social marketing into social distribution, direct to consumer. Pretty exciting. We are offering investors something they’ve not been able to access before.”
The ARK Enterprise Fund prices a flat administration charge of two.75%, and doesn’t cost any carried curiosity or load charges. The overall expense ratio of the fund is estimated to be 4.22%, Ark mentioned.
Ark’s flagship Innovation Fund (ARKK) has been below water all yr as Wood’s disruptive darlings have been a few of the largest victims of rising rates of interest. ARKK is down 60% this yr and off 70% of its 52-week excessive in November.