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ARK Investment Management LLCIE000DVU5N80Class E1 (USD) clean
The ARK Private Innovation ELTIF brings ARK's focus on disruptive innovation to the private market: growth capital for later-stage companies as a crossover strategy spanning private and listed names, launched in 2026 as an Irish ELTIF 2.0.
In the first year after launch redemptions are excluded entirely (ramp-up); thereafter quarterly redemption with a quantified quarterly gate and an additional ceiling based on the liquid assets. Monthly subscription.
Designed as a retail ELTIF; the minimum investment depends on share class and distribution platform. Subscriptions run exclusively through regulated intermediaries after a suitability assessment. Registered for distribution in Germany.
The only fund in the database with an explicit innovation/venture profile from a well-known thematic manager — young, without a track record and with a strict ramp-up lock.
Figures for class E1 (USD) clean (IE000DVU5N80) · product data 25 Sep 2026 · sources: prospectus (as at 22 Dec 2025), PRIIPs-KID — full list under 08 documents.
Since the data series began in Mar 2026, the unit price has gained 5.1% (cumulative, 0.4 years). The series is still short; valuations of private holdings arrive quarterly and smoothed.
7 monthly values, 4 derived from monthly returns · Source: secondary source (data portal) · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. The fund has been running since Feb 2026; a reliable NAV series of the class is available from Mar 2026.
What the prospectus permits: Predominantly 'direct-to-cap-table' direct investments in private companies (primary and secondary transactions), deliberately without an SPV intermediate layer.
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
19 holdings; the five largest account for 65.2% of the fund. 2.7% is held in the liquidity reserve — enough for 2 months of maximum redemptions.
Focus according to fund documents: Software & SaaS 58%, Aerospace 17%, Internet & e-commerce 6%, Semiconductors & hardware 4%, Defence & security 3%, Battery storage 2%, Fintech & payments 1%, Cash & cash equivalents 9%
Focus according to fund documents: United States 85%, Canada 4%, United Kingdom 3%, Cash & cash equivalents 9%
Among the ten largest: 10 equity holdings.
OpenAI (San Francisco) develops large generative AI models in the GPT series as well as products such as ChatGPT and API services for consumers, developers and enterprises.
U.S.-based cloud software development platform on which users can write, collaborate on and directly deploy applications with the help of AI agents.
SpaceX (headquartered in Starbase, Texas) develops and operates reusable launch vehicles …
Boom Supersonic, based in Denver, Colorado, is developing the Overture supersonic passenger aircraft for airlines as well as its own Symphony engine.
Ayar Labs, based in San Jose, California, develops optical I/O chiplets based on silicon photonics that transmit data between AI accelerators …
Databricks runs a cloud-based data and AI platform (lakehouse, or “Data Intelligence Platform”) for data engineering, analytics, machine learning and generative AI …
Tenstorrent develops AI accelerator chips and high-performance processors based on the open RISC-V architecture and also licenses processor IP to other chipmakers.
U.S. defense technology company headquartered in San Diego that develops Hivemind, AI pilot software for autonomous aircraft.
Lucra is a US platform for skill-based, real-money competitions and challenges that is embedded as a software solution in the apps of sports and leisure providers.
Cosm is a US media and technology company operating immersive dome venues ("Shared Reality") for live sports broadcasts and entertainment, including in Los Angeles and Dallas.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 2.50%, class E1 (USD) clean is below the median of the asset class (2.60%). On top comes a performance fee of 12.50% above a hurdle of 7% — with a high-water mark.
Based on the PRIIPs key information document of class E1 (USD) clean, hence comparable across providers. Median: 35 Private Equity funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The prospectus does not fix a determinable dealing day; the sequence is therefore shown as a rule, without dates.
Price = NAV per share on this day.
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Price | valuation day |
| NAV publication | NAV per Dealing Day, publication on the following Business Day |
| Revocation | irrevocable from Trade Cut-Off, subject to Cooling-off |
Data as at 25 Sep 2026 · Documents: 08.
Units can be redeemed quarterly — with a volume limit (Gate), lock-up 12 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemptions quarterly only according to the KID; pro-rata scale-back where requests exceed 5% of the fund NAV …
NAV per unit less redemption fee (up to 3%)
In the first twelve months after launch, redemptions are entirely excluded (Ramp-up Period).
No date can be calculated from the captured rules — a determinable valuation day is missing. Shown are the prospectus figures.
No liquidity score — the notice period is not stated as a number in the prospectus.
The score needs a quantified redemption frequency, notice period and payout rule; as soon as the prospectus provides them, it is calculated.
| Character | redemption right |
|---|---|
| Frequency | quarterly |
| Notice | 30 days (not documented) |
| Price | valuation day |
| Gate | 5% of NAV per quarter |
| Redemption fee (max.) | up to 3% (discretionary) |
| Lock-up | fund-level, 12 months (fund launch) |
| Suspension | Market closure/trading suspension, valuation not practicable, liquidation/termination |
| Liquidity tools | Gate (pro-rata scale-back), Swing Pricing/Dilution Adjustment, suspension, Deferred Repurchase |
| Switch / transfer | permitted with consent (the Directors may refuse registration); no active secondary market expected, a listing on Euronext Dublin is possible |
| Compulsory redemption | in the case of a US person/non-qualifying holder, tax withholding, failure to maintain the minimum holding, closure of the fund |
In the first twelve months after launch, redemptions are entirely excluded (Ramp-up Period). Thereafter units may be redeemed quarterly, with total redemptions in a quarter normally limited to 5% of the fund's NAV.
Two stages: the fund gate of 5% of NAV per quarter and the overriding ELTIF limit of 27.3% of the liquid assets, which in stress phases may fall below the 5% limit. If the requests exceed the limits, the requests of the individual investors are scaled back pro rata.
Data as at 25 Sep 2026 · Documents: 08.
3 classes. All cost and risk figures on this page refer to the basis class E1 (USD) clean.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Factsheet / monthly report | 31 Jul 2026 | — |
| Presentation | 1 May 2026 | — |
| NAV series secondary source (data portal) | 14 Aug 2026 | Performance (01) |
| Positions and reserve | 31 Aug 2026 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption quarterly, notice period 30 days, with 5% gate per quarter.
Ongoing costs of 2.50% p.a. according to the PRIIPs KID for class E1 (USD) clean; the median of the Private Equity funds in this database is 2.60%; plus a performance fee of 12.50%.
Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the ARK Private Innovation ELTIF. Under the prospectus a gate of 5% per quarter applies.
Same asset class, similar sub-strategy.
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BlackRock · ELTIF 2.0 · quarterly
Blackstone · Part II SICAV · quarterly
Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.