Fundrise unveils $1bn venture fund

• The fund is open to all U.S. residents for a minimum investment of $10
• Fundrise has more than 300,000 individual investors and more than $2.8 billion of equity under management
• Fundrise was founded in 2012

Fundrise, a direct-to-investor real estate investment platform, has launched a $1 billion venture fund. The fund, known as the “Innovation Fund,” will invest in late-stage venture capital and private growth equity investments.

The fund is open to all U.S residents for a minimum investment of $10. According to the news release announcing this fund, it is “the first time any individual investor has been able to invest directly in a growth equity venture fund, and it comes at a time when the institutional VC industry is playing defense.”

“The irony is that venture capital is all about funding disruption, yet as an industry it hasn’t evolved and utilizes almost no technology. We’re changing that,” said Ben Miller, co-founder and CEO of Fundrise, in a statement. “We started Fundrise with a simple idea, that individual investors deserved access to the same high-quality investments as institutions and the ultra wealthy, and we’ve spent the past 10 years proving it was possible in the real estate industry.”

Fundrise has more than 300,000 individual investors and more than $2.8 billion of equity under management.

Fundrise was founded in 2012 and is based in Washington, D.C.