Overview
- VCX, which listed last Thursday at $31.25, jumped as much as 39% to $265 on Tuesday in a fourth straight gain that triggered multiple volatility halts.
- Shares now trade more than 1,300% above the fund’s reported net asset value of $18.97 per share, meaning buyers are paying over 13 times the value of its holdings on paper.
- Investor demand centers on access to private AI leaders, with Anthropic as the largest position at 21% of the portfolio and fresh interest following news of Claude’s new computer-control browser tool.
- Most shares bought before February 20 are locked up for six months after the listing, which keeps the tradable float small and makes price swings more extreme.
- The fund offers rare retail exposure to late‑stage private firms including Databricks, OpenAI, Anduril, SpaceX, Ramp, and Epic Games, and it launched with over 100,000 investors and about $650 million in assets.