Dan Ives Launches Closed-End Fund to Provide Access to Private AI Companies
Technology analyst Dan Ives has launched a closed-end fund called Ives Ultra AI Opportunities, aiming to provide investors access to private companies driving the artificial intelligence (AI) boom. The fund will raise $200 million by selling 20 million shares at $10 each and is set to trade on the New York Stock Exchange under ticker symbol 'IVAI.' It plans to allocate up to 80% of its net assets toward AI-focused companies, with a focus on late-stage U.S. private firms. Ives emphasized that many leading AI innovators remain in the private sector and are largely inaccessible to retail investors. The fund aims to bridge this gap by offering public exposure to these high-growth opportunities. Despite growing safety concerns around AI development and calls for slower innovation, Ives remains bullish on long-term prospects for the industry. The launch comes as major AI developers like OpenAI consider going public but face regulatory and societal scrutiny.
Tickers: $IVAI
Topics: AI Fundraising Private Companies Technology Investment