Access IPOs Podcast

Fundrise VCX

Access IPOs Newsletter + Free Download

("The IPO Process" One-Pager)

Craig sits down with Fundrise Co-Founder and CEO, Ben Miller, to talk about the public launch of VCX.

The conversation covers Fundrise's decision to take VCX public in a direct listing, the current investment thesis with AI and SpaceX, and the current of startup and real estate investing.

Plus what the future holds for VCX, potential new funds, and Fundrise iPO shareholders.

Disclosures: Craig was not paid to make this video. Craig is long the Fundrise Innovation Fund VCX, the Fundrise internet public offering, and multiple real estate funds. All VCX shares are restricted. This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

(0:00) Intro

(1:40) Thanks

(2:12) What is VCX?

(3:42) Non-Traded to Traded

(5:10) Direct Listing vs. IPO

(12:27) High-Demand Startups

(13:04) Investment Thesis

13.33 AI Investing

(19:09) VCX Portfolio

(23:18) Structural Bridge

(28:06) Investor Communication

(34:52) VCX SpaceX Investment

(36:49) How VCX Handles IPOs

(39:13) VCX 2?

(42:42) Real Estate Funds

(44:26) Mountains and Valleys

(45:12) Fundrise IPO?

(47:30) Onward

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

The Fundrise VCX fund exploded at the open on Thursday, up more than 300% from its net asset value (NAV). This long-time favorite (previously the Fundrise Innovation Fund) is now available to anyone who can trade U.S. stocks and funds.

Craig looks at the direct listing dynamics and previews what to expect as trading settles, comparing VCX to the Destiny 100 (DXYZ) and Robinhood Ventures Fund I (RVI).

In IPO Radar news, the Kraken IPO is postponed, Kalshi is raising $1 billion at a $22 billion valuation, and General Matter is raising $500 million at a $2 billion pre-money valuation.

Disclosures: Craig was not paid to make this video. Craig is long the Fundrise Innovation Fund VCX, the Fundrise internet public offering, and multiple real estate funds. All VCX shares are restricted. This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

(0:00) Intro

(0:24) Fundrise VCX Launch

(3:11) Direct Listing

(4:36) Unrestricted Shares

(6:04) Net Asset Value (NAV)

(6:38) DYXZ Chart Comparison

(7:48) RVI Chart Comparison

(8:27) RVI ElevenLabs

(9:41) RVI Discount

(10:07) VCX Premium

(11:39) What's Next for VCX

(12:23) Pragmatism

(13:01) IPO Radar News

(13:43) Kraken IPO Freeze

(15:29) Kraken Valuation

(16:20) Kalshi $22B Valuation

(18:57) General Matter $500M Raise

(19:45) What is General Matter?

(20:21) Enriched Uranium Supply Chain

(22:59) Invest in General Matter?

(23:31) Connect

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

First up, Craig briefly recaps the RVI IPO and highlights the new Fundrise Innovation Fund VCX listing date.

Vibe coding startups are RED HOT. Craig features a handful of the fastest-growing vibe coding startups and their staggering revenue growth.

In IPO Radar news, Anduril confirms its $60 billion valuation, Saronic is raising a Series D, and Sierra Space closes its Series C.

Craig talks about the economics of defense tech, and how startups lowering cost improve the economics of battle to deter adversaries.

Free Newsletter and Download

("The IPO Process" One-Pager)

Access Club: 7-Day Free Trial

$5 to join at the Baseline Level

(0:00) Intro

(0:30) RVI IPO Disappointment

(2:13) Fundrise VCX Listing Date

(3:36) Vibe Coding Investing

(5:15) Cursor Staggering Growth

(8:13) Claude Code and Codex

(8:44) Cursor IPO Potential

(8:54) Replit Fundraise

(9:45) Replit ARK Venture Fund

(10:05) Lovable Revenue Growth

(11:00) Lovable Valuation

(11:52) Cognition

(13:06) History Repeats

(13:57) SaaS-Pocalypse

(14:38) Personal Experience

(15:18) Code Modernization and Optimism

(17:08) IPO Radar News

(17:24) Anduril $60 Billion Valuation

(17:42) Defense Tech Opportunity

(18:56) Saronic Series D

(21:03) Invest in Defense Startups?

(21:41) Sierra Space Technologies

(22:45) Sierra Space Series C

(23:11) Sierra Space IPO Potential

(24:51) Outro

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

Episode #50: Craig highlights the big picture opportunity in public venture funds and the current State of IPOs in 2026.

RVI IPO Date: Friday, March 6th.

VCX IPO Date: Tuesday, March 10th.

Retail investors can invest in Anthropic, OpenAI, SpaceX and more starting then.

In IPO Radar news, Anthropic is soon investable through VCX, while revenue is surging.

OpenAI has hired law firms to help prepare for the OpenAI IPO.

And a SpaceX IPO update, the company is weighing filing confidentially in March.

Thanks to viewers, newsletter subscribers, and Patreon members for watching, listening, and supporting the show.

And thanks to my daughter for the intro and outro!

Newsletter Signup

(free download - "The IPO Process" One-Pager)

Patreon: 7-Day Free Trial

Economist Article

(0:00) Intro

(0:32) Episode #50

(1:12) VCX and RVI

(2:41) RVI IPO

(4:11) VCX Listing

(4:58) Invest in Anthropic

(5:46) Why?

(7:19) State of IPOs in 2026

(10:40) Cerebras IPO

(12:03) Upcoming IPOs

(15:33) Status Quo

(16:59) Retail Ownership

(17:22) IPO Radar News

(18:08) Anthropic Growth Timeline

(21:20) Anthropic Crazy Revenue

(22:54) Anthropic for Retail

(23:12) OpenAI Hires Law Firms for IPO

(23:44) AI IPOs 2026

(25:04) SpaceX IPO Update

(26:26) How to Invest

(26:58) SpaceX IPO

(28:00) Data Centers in Space

(28:18) What Makes a Market

(29:22) Thank you. Up Next.

(30:02) Guest Outro

Robinhood postponed its RVI IPO 8 days, possibly due to its Stripe purchase or lack of IPO share demand. Fundrise VCX shareholders passed key proposals, and the deal is expected to direct list in mid-March. Craig compares RVI vs. VCX holdings side-by-side.

In IPO Radar news, Stripe's valuation hits $159 billion in a tender offer, and the company is considering acquiring PayPal.

Cerebras IPO update: The company has filed confidentially (again) for its IPO, which could arrive as early as April 2026.

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

Newsletter Signup

(free download - "The IPO Process" One-Pager)

Access Club: 7-Day Free Trial

$5 to join at the Baseline Level

Related Content

https://www.youtube.com/watch?v=afVTvk8euy0

https://www.youtube.com/watch?v=Qx3jw1-KsZM

(0:00) Intro

(0:26) Where are the IPOs?

(0:58) RVI and VCX

(1:27) RVI IPO Delay

(2:30) RVI IPO Date March 6th

(3:06) RVI Stripe Investment

(4:23) VCX Shareholder Vote

(5:28) VCX Direct Listing (not an IPO)

(6:34) VCX Investor Day

(6:56) SEC Filing

(7:18) Net Asset Value (NAV)

(8:58) RVI vs. VCX (side-by-side)

(10:52) Cash Heavy

(12:25) "Should I Invest?"

(14:14) IPO Radar News

(14:26) Stripe Valuation $159 billion

(17:13) Stripe IPO Potential

(18:15) Invest in Stripe

(18:52) Stripe Considering PayPal Acquisition

(21:06) Cerebras IPO: Files Confidentially

(24:29) Special Guest Next Week

(26:05) Outro

The Robinhood Ventures Fund IPO is next week.

Are public venture funds like RVI, VCX, and DXYZ the new standard for startup investing for retail investors?

In IPO Radar news, defense tech is hot as Shield AI raises at $12 billion, and Anduril seeks a $60 billion valuation.

Newsletter Signup

(free download - "The IPO Process" One-Pager)

Access Club: 7-Day Free Trial

$5 to join at the Baseline Levelbillion, and Anduril seeks a $60 billion valuation.

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

CORRECTION: Please note, the VCX, RVI, and DXYZ funds are not ETFs. They closed-end funds (CEF) that are exchange-traded. Though they trade like ETFs, this is an important distinction.

The Fundrise Innovation Fund (VCX) plans to go public, pending a shareholder vote in February.

What does this mean for existing investors, and how will it impact the fund over the long-term?

Written Fundrise Venture Review

In IPO Radar news, Erebor is a bank, Beast Industries buys a fintech, and SpaceX to the moon!

Newsletter Signup

(free download - "The IPO Process" One-Pager)

Access Club: 7-Day Free Trial

$5 to join at the Baseline Level

(0:00) Intro

(0:25) Non-Accredited Startup Investing

(1:01) Venture Capital Funds (for Non-Accredited)

(1:22) Fundrise Innovation Fund

(2:36) Fundrise VCX

(3:25) Robinhood RVI and DXYZ

(5:14) Fundrise Review

(5:40) Robinhood Ventures

(6:36) Why Launch VCX?

(10:00) VCX Downsides

(11:58) VCX Holdings

(12:36) Disclosure

(12:46) IPO Radar

(13:32) Erebor Bank Charter

(16:25) Erebor Valuation

(16:48) Beast Industries Acquires Step

(19:04) Beast Industries Valuation

(20:08) SpaceX IPO Watch

(20:35) SpaceX to the Moon

(23:58) Outro

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

The xAI and SpaceX merger announcement sets the stage for a June 2026 SpaceX IPO. Craig highlights recent SpaceX valuation and revenue numbers, and previews what to expect from the SpaceX IPO in the coming months.

In IPO radar news, we saw several positive IPOs this past week from Once Upon a Farm, Forgent Power Systems, and Bob's Discount Furniture. The Cerebras Series H triples its valuation, Waymo raises Waymo money, and Capital One acquires Brex.

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

(0:00) Intro

(0:27) SpaceX + xAI Done Deal

(1:43) Elon on Cheeky Pints

(2:00) Data Centers in Space

(2:33) SpaceX Valuation and Revenue

(5:58) xAI Valuation

(6:44) Tesla China Risk

(7:42) SpaceX IPO: What's Next?

(9:28) How to Invest in SpaceX

(10:34) IPO Radar

(11:02) IPOs this Week

(11:45) Kraken IPO Delay?

(12:00) Cerebras Series H

(13:16) Cerebras IPO

(14:16) Waymo Fundraise

(17:11) Alphabet's Dominance

(17:41) Waymo IPO or Spinoff?

(18:23) Capital One Acquires Brex

(20:23) Brex Lessons Learned

(21:37) Ask

(22:59) Outro

Craig breaks down what we know about a potential SpaceX merger with xAI, discusses the possible merger with Tesla, and revisits the SpaceX IPO timing (based on new information and planetary alignment).

Flat debuts from York Space Systems (YSS), Ethos Life Insurance (LIFE), and Picpay Holdings (PICS) warn of the coming wave of mediocre IPOs.

There's a new IPO Radar List filter on the website. Check it out.

Plus, IPO radar news about an OpenAI IPO date, Automation Anywhere backdoor IPO, and MrBeast highlights 5 IPO Radar startups in his latest video.

Best IPO Brokers

Patreon: 7-Day Free Trial

Newsletter Signup

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

(0:00) Intro

(0:35) SpaceX xAI Merger

(2:11) Stock Symbol "X"

(2:51) SpaceX Tesla Merger

(4:29) SpaceX and xAI Valuations

(4:46) Weighing Options

(5:34) Planetary Alignment?

(7:00) Too Many Reports?

(8:08) Resurfaced Tweets

(8:32) IPO Broker Competition

(11:03) Elon Speed

(11:31) Recent IPOs

(12:01) Caution: Mediocrity

(13:14) Jersey Mikes IPO

(13:42) Ledger IPO

(14:05) IPO Radar Resource

(15:08) OpenAI New Fundraising

(16:24) OpenAI IPO Q4 2026

(18:00) Automation Anywhere C3.AI Merger

(19:05) Thomas Siebel, Legend

(20:05) "AI" Stock Symbol

(21:18) MrBeast IPO Radar Companies

(24:10) Outro

Episode #44: Four new insights into the SpaceX IPO. The FT reports on four banks for hire.

The BitGo IPO and EquipmetShare IPO kicked off 2026 with opposite outcomes.

In IPO Radar news, Honeywell plans a Quantinuum IPO, Zipline raises funds, and a Fervo Energy IPO is nearer.

Join the Access Club: 7-Day FREE TRIAL

Share and learn with our community.

Newsletter Signup

Free download - "The IPO Process" One-Pager

Best IPO Brokers

Access IPOs content is for informational purposes only and does not recommend that investors buy or sell any companies mentioned. Perform personalized due diligence and only invest with money you can afford to lose.

(0:00) Intro

(1:05) SpaceX IPO Update

(1:47) Complete IPO by July

(2:39) Four Banks

(5:17) Next Step

(6:35) Elon's Motivations

(8:14) AI Rivalry

(10:34) Invest in the SpaceX IPO

(13:00) BitGo IPO

(14:28) EquipmentShare IPO

(15:00) Brokers and Strategies

(17:14) IPO Radar News

(17:46) Quantinuum IPO

(19:26) Zipline Fundraise

(23:20) Fervo Energy IPO

(25:38) Outro