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Cathie Wooden, chief government officer and chief funding officer, Ark Make investments, speaks in the course of the Milken Institute World Convention on Might 2, 2022 in Beverly Hills, California.
Patrick T. Fallon | AFP | Getty Photos
Cathie Wooden’s Ark Make investments launched a brand new enterprise capital fund, concentrating on particular person buyers with a minimal funding of simply $500.
The actively managed Ark Enterprise Fund invests in 70% personal companies and 30% public firms targeted on technologically enabled innovation, and selectively in different enterprise capital funds, Ark Make investments mentioned Tuesday. The fund is obtainable to particular person buyers initially by investing app Titan, a startup backed by Andreessen Horowitz.
“We’re doubling down on innovation,” Wooden mentioned in an interview Tuesday on CNBC’s “Squawk Field.” “Ark is shifting from social media and social advertising and marketing into social distribution, direct to client. Fairly thrilling. We’re providing buyers one thing they’ve not been capable of entry earlier than.”
The Ark Enterprise Fund costs a flat administration charge of two.75%, and doesn’t cost any carried curiosity or load charges. The full 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 Wooden’s disruptive darlings have been a number of the greatest victims of rising rates of interest. ARKK is down 60% this yr and off 70% from its 52-week excessive in November.
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