The Financial Samurai Podcast How An Open-Ended Venture Capital Fund Operates
Jan 29, 2025
Ben Miller, Co-founder and CEO of Fundrise, shares insights into operating open-ended venture capital funds. He discusses what happens when a private company goes public and its impact on funds. Miller emphasizes the importance of relationship-building with companies and the hustle required in identifying promising investments. He also explains strategies for managing liquidity and risk, highlighting how Fundrise provides investors access to private tech ventures. Lastly, he touches on adapting investment strategies to market fluctuations and the economic outlook for 2025.
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ServiceTitan Investment
- Fundrise invested $20 million in ServiceTitan after identifying it as a promising private company.
- This successful investment led to a significant return after ServiceTitan's IPO.
Venture Capital Access
- Fundrise created a public, non-traded venture fund accessible to a wider range of investors.
- Identifying promising companies is easier than gaining access to invest in them.
Customer Relationships
- Fundrise leverages its customer relationships to gain access to private companies.
- Being a customer provides a relationship and familiarity with the company's operations.