Dario Amodei, co-founder of Anthropic. Aaron Schwartz/Bloomberg via Getty Images
Bloomberg/Getty Images
Anthropic is set to IPO in mid-November at a $1.5-$2 trillion valuation.
Retail investors can access Anthropic pre-IPO via funds like ARK Venture Fund and Corgi MANGOS ETF.
Some funds offering exposure to Anthropic have liquidity risks and are expensive.
AI giant Anthropic is set to go public in mid-November, but there are ways for eager investors to get exposure ahead of the IPO.
In a client note on Wednesday, Sevens Report Research founder Tom Essaye highlighted five funds that invest the creator of the Claude AI chatbot .
We’ll list those below, but first, here are some facts, figures, and things to keep in mind before putting your money into them.
1. Liquidity risks
Not all of the funds listed below are ETFs, which are highly liquid since they trade like stocks.
Instead, some are closed-end and interval funds, which may only be redeemed once every quarter.
Also, some of the funds, like Corgi’s MANGOS ETF, use complex derivative such as perpetual futures and swaps to simulate exposure to a private company.
2. Early exposure can cost you a pretty penny
If you want in on Anthropic before its IPO, you may have to pay a hefty premium.
While low-cost index funds often have expense ratios well below 0.1%, specialized funds that invest in firms like Anthropic and other private companies can carry high price tags. Some expense ratios you’ll see below climb well above 2%, which can eat into returns over time.
3. Like SpaceX, Anthropic will IPO at a steep valuation
Anthropic is expected to IPO at around a $1.5 trillion to $2 trillion market cap, which would make it one of the top 10 largest most valuable companies in the world. That implies a steep valuation considering it’s still losing money.
But the company’s revenue continues to increase. It recently reported $16.8 billion in revenue in Q3, up 45% from Q2.
4. Stocks tend to underperform in the months after going public
All of the hype around an IPO can cause a stock to soar in its first few days of trading. Yet, over the following months, performance is more lackluster, historical data shows.
Truist data on 30 high-profile tech IPOs published earlier this year showed that the average stock-price drawdown within a year of going public was -55% .
SpaceX went through a rough patch shortly after its launch on public markets. After an initial surge, it fell as much as 46% from June 16 highs. Since August 5 lows, it has recovered, gaining 34%. The shares remain volatile, down 10% since their debut at Thursday’s close.
With all that in mind, let’s take a look at some of the funds offering exposure to Anthropic before it hits the public market. Commentary from Sevens Report Research is included for each fund.
Fundrise Innovation Fund
Giuliano Berti/Bloomberg via Getty Images
Giuliano Berti/Bloomberg via Getty Images
Ticker: VCX
Anthropic weighting: 20%
Expense ratio: 1.85%
Comments: “NYSE-listed public venture fund that provides access to top private tech companies.”
Destiny Tech100
Michael Nagle/Bloomberg via Getty Images
Ticker: DXYZ
Anthropic weighting: ~14%
Expense ratio: 2.5%
Comments: “NYSE-listed closed-end management investment company that invests in top venture-backed private technology companies.”
Corgi MANGOS ETF
Matteo Della Torre/NurPhoto via Getty Images
Matteo Della Torre/NurPhoto via Getty Images
Ticker: MN
Anthropic weighting: ~9%
Expense ratio: 0.2%
Comments: “Concentrated actively managed ETF that offers exposure to Meta, Anthropic, Nvidia, Google, OpenAI, and SpaceX or the MANGOS.”
Tema Photonics & Optical ETF
Suhaimi Abdullah/Bloomberg via Getty Images
Suhaimi Abdullah/Bloomberg via Getty Images
Ticker: LAZR
Anthropic weighting: ~10%
Expense ratio: 0.75%
Comments: “Invests in companies addressing a critical AI bottleneck of moving data faster—and had the most pre-IPO exposure to Anthropic by portfolio weight of any U.S.-listed ETF as of Sept. 2026.”
ARK Venture Fund
David Paul Morris/Bloomberg via Getty Images
David Paul Morris/Bloomberg via Getty Images
Ticker: ARKVX
Anthropic weighting: ~4%
Expense ratio: 2.90%
Comments: “Actively managed closed-end interval fund that seeks long-term growth by investing in both private and public companies that are disruptive innovators.”
Read the original article on Business Insider
