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Fund offering 'venture capital' exposure sends investors on meme-like ride

The fund owns stakes in about 25 private technology and growth companies, including SpaceX, OpenAI, Instacart and online payments processor Stripe. It plans to update its holdings on a quarterly basis, and creator Sohail Prasad said last month that he would like it to eventually hold 100 companies.

"These are companies that people know and love and often use in their daily lives, but can't invest in unless they're wealthy," he said.