Ives Fund Files to Raise $200 Million for AI Investments

Dan Ives has filed to create the Ives Ultra AI Opportunities closed-end fund, planning to raise $200 million by selling 20 million shares at $10 each. The fund will primarily invest in private, late-stage AI companies, allocating 80% of net assets toward this sector. It will be traded under the ticker IVAI on the New York Stock Exchange and will charge total annual expenses of 3.1%. This fund aims to provide retail investors access to private AI tech firms, addressing a gap where two-thirds of Americans feel excluded from high-growth opportunities in the market.