The Anthropic mini IPO is unfolding and you already missed a 15x return The stock is named VCX by Fundrise and just went up 1,500% in 5 days on the NYSE It’s a fund holding: - Anthropic = 21% - OpenAI = 10% - SpaceX = 5% - Databricks = 18% - Anduril = 7% $VCX has a NAV of $19 per share. This morning it just traded at $312. That means the market is valuing a $650 million fund at $5.4 billion 🤯 Investors are paying an 8x premium just to touch these companies. Why? Because the most important companies being built right now refuse to go public. And people are so desperate for exposure that they will pay almost anything to get it. The private markets are sitting on trillions in value that public investors have been locked out of and this stampede tells you everything about how much hype there will be around these IPOs. I hope this speeds things up

Mar 24, 2026 · 2:34 PM UTC

158
206
2,581
1,466,370
I hate to say this but it went up another 80% this morning…
Josh Kale
@JoshKale
Mar 25
If you bought into the mini Anthropic IPO last week you're now up 18x 🤯 this is just insane this point - $VCX is now trading at $565 - The fund's actual net asset value is $19 per share - Investors are paying ~30x what the underlying holdings are worth A $650 million portfolio of private companies is being valued by the market at nearly $10 billion. To put the premium in perspective: If you buy one share of VCX at $565, you're getting roughly $19 worth of Anthropic, OpenAI, SpaceX, Databricks, and Anduril. The other $546 is pure demand premium. You are literally paying $546 for the privilege of accessing these companies. And people are lining up to do it. Truly insane scenes
7
1
17
14,106
Sort replies: Relevant Recent Liked
Replying to @JoshKale
Insane that the public has missed out on these gains for the benefit of the rich
9
45
22,302
if they want true alignment it should also be financial
1
15
20,698
Replying to @JoshKale @francispedraza
There are better ways…
5
40
14,251
Replying to @JoshKale
sued by the SEC for failing to disclose it paid social media influencers
1
1
21
8,235
Replying to @JoshKale
Hard pass, and this one needs a direct warning. What VCX actually is: This is a closed-end fund (CEF) from Fundrise with a NAV of ~$19/share. It holds stakes in Anthropic, OpenAI, SpaceX, Databricks, Anduril. The underlying assets are real and valuable. The problem: The stock is trading at $281 on a $19 NAV. That's a 1,379% premium to the actual value of the assets it holds. You would be paying $281 to own something worth $19. How this always ends: CEFs trading at extreme premiums to NAV always revert. Always. The only question is timing. When the hype fades — and it always does — the stock crashes back toward NAV. That's a potential -93% drawdown from current levels. The post is designed to create FOMO. "You already missed a 15x return" + "people will pay anything" = classic pump framing. The people who bought at $19 made 15x. Anyone buying at $281 is buying their exit. The right way to think about this: If you genuinely want exposure to Anthropic/OpenAI/SpaceX, the answer isn't paying 14x NAV for a CEF. Wait for the actual IPOs or look for more reasonably priced indirect exposure (like NVIDIA, which supplies the compute). @grok what is your assessment?
16
13
207
23,212
Replying to @JoshKale @epictrades1
$VCX is a low volume pump and dump. Ya it can go higher but you would have to be foolish to try to jump in a stock with a 500K+ volume trading this erratic. That’s gambling not investing.
1
12
2,145
Replying to @JoshKale @DrewAustin
I would argue the public is just confused by the structure and doesn’t understand what they’re doing.
9
4,894
Replying to @JoshKale
Not all of us missed it
5
4,168
Replying to @JoshKale
Silly behavior. Instead of paying 8x NAV just to touch these companies, you can pay 1x NAV and invest in many of these same companies via the ARK Venture Fund Available on Titan for suitable investors ark-funds.com/funds/arkvx

ARK Venture Fund (ARKVX) - ARK Ventures

The ARK Venture Fund seeks to democratize venture capital, offering all investors access to what we believe are the most innovative companies throughout their private and public market lifecycles.

ark-funds.com
1
3
778
Replying to @JoshKale
just use @PreStocks instead
4
203
Replying to @JoshKale
Something’s brewing
1
142
Replying to @JoshKale
If you understand how many psychology works, you can still benefit from this. I’ll gladly take a 355% mover in a couple of days any day.
PlayBookTrades 🎯
@PlayBookTrades
Mar 24
$VCX Did you listen? I'll take a 355% move in just a couple of days any time. Congrats to those who got in with me! 💰
2
1,328
Replying to @JoshKale
So VC, but with retail money…? Likely illegal.
4
692
Replying to @JoshKale
How’d I not hear about this bro I could made bajillion dollars
1
212
Replying to @JoshKale
@grok is this legit?
1
1,682
Replying to @JoshKale
prob too expensive to borrow to short.... shame
1
1,798
Replying to @JoshKale
This is an insane purchase at current price. For this stock to be reasonably priced then you need to believe that OpenAI is currently worth $14T, Anthropic is >$6T and Databricks is >$2T. Basically a 16.6x multiple on these companies last funding round: x.lingyaoai.com/i/grok/share/90b2039eb…

Show me the implied valuation of each of these companies at 16.6x mult…

Implied company valuations at the 16.6× premium to NAV The VCX market price (as of the March 24, 2026 close used for the 16.6× figure) applies a uniform premium across the entire portfolio. Because the fund marks its stakes to each company’s most recent private valuation, this 16.6× multiple directly scales up every underlying company’s valuation by the same factor. Here are the implied valuations for the top holdings shown in the prior table: | Company | Latest Private Valuation …

Answer by Grok
2
640
Replying to @JoshKale
Josh, would have loved this info a week ago For next time
1
393
Replying to @JoshKale
Yeah $KLED gonna do even crazier numbers than this and anyone can buy the token right now, today.
1
197
Replying to @JoshKale
this is why we need more public access to private gems
337
Replying to @JoshKale
x.lingyaoai.com/DeHausDemon/status/203…
164
Replying to @JoshKale
Plenty of gains possible since you posted this
60
Replying to @JoshKale
already looking into this. wild that most people still sleepin on it
450
Replying to @JoshKale
@grok break this down for me.
1
145
Replying to @JoshKale
Yeah, let the dust settle and check back in 90 days
1
28
7,801
Replying to @JoshKale
Why? Bc it's a pump and dump. Underlying assets are attractive, and that's it.
1
21
8,068
Replying to @JoshKale
If purely based on this fund, Anthropic is worth $3.16T. Too rich.
7
3,304
Replying to @JoshKale
This is just retail being dumb. Cheaper to just buy Google/Microsoft/Amazon.
6
1,306
Replying to @JoshKale
It’s been insane!!! I bought $300 worth last year when it was private.
1
6
2,464
Replying to @JoshKale
Retail investors could have bought this fund for NAV up until february. It didn't require accreditation or a big investment or anything, just opening an account.
5
2,709
Replying to @JoshKale
if anyone knows a broker you can short this on lmk
3
796
Replying to @JoshKale
Will there be a massive drop off once the 6 month locked period comes to an end because all the shares hitting the market at once?
2
4
2,317
Replying to @JoshKale
The whole go and stay public process is a complete and utter failure if this is the result
2
2,671
Replying to @JoshKale
If you advertise it everywhere and only release very few shares to the market, this is likely result. Same thing happened to $DXYZ huge marketing campaign made it blow past reasonable price. There are other great funds out there holding private companies that trade at or below NAV. $STCGF and $SSSS stand out, $ARKVX on Sofi. $VCX
3
3,378
Replying to @JoshKale
“The most important companies being built right now refuse to go public.” Aren’t the 1st 3 companies (Anthropic, OpenAI, SpaceX) going public (or at least trying to) just this year?
4
2,162
Load more