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ARK Invest Collaborates with Securitize to Tokenize Venture Capital Fund
ARK Invest, an asset management company based in the United States, has announced a partnership with the tokenization platform Securitize to tokenize its ARK Venture Fund (ARKVX). The fund will initially be issued on the Ethereum blockchain, with plans for potential expansion to other blockchain platforms in the future. This fund invests in both private and public companies, boasting holdings that include notable firms such as OpenAI, Anthropic, Stripe, and Databricks.
Cathie Wood, founder and CEO of ARK Invest, emphasized that placing the ARK Venture Fund on-chain aligns with the company's mission to democratize investment in disruptive innovations. Securitize CEO Carlos Domingo highlighted that this initiative will offer investors diversified exposure to leading private technology companies, enabling them to invest in both OpenAI and Anthropic simultaneously, which could be beneficial for those uncertain about which company will lead in the artificial intelligence sector.
Domingo clarified that while the tokenization process will not place the companies or their shares on-chain, investors will receive an on-chain representation of fund equity, ensuring liquidity for their investments. Securitize also plans to provide daily net asset values and facilitate trading of fund equity on-chain markets. This collaboration builds on the existing relationship between ARK and Securitize, as ARK made a strategic investment in Securitize last year.
Source: KLEA News