Pre-IPO Investing Goes Mainstream: How Retail Investors Can Now Access SpaceX and Other Private Companies Before IPO

Retail investors can now access pre-IPO shares in private companies such as SpaceX, OpenAI, and Anthropic through publicly available investment vehicles, according to recent reports and financial platforms. This development allows everyday investors to gain exposure to high-growth startups before they list on public exchanges, a shift from traditional venture capital access limited to institutional investors.

One such vehicle is ARK Venture Fund (ARKVX), managed by Cathie Wood, which uses an interval fund structure to offer fractional ownership in private companies. Through major brokers including Charles Schwab, SoFi, and Titan, investors can buy into ARKVX and gain exposure to SpaceX’s reusable rockets, OpenAI’s generative AI technologies, and Anthropic’s safety-focused large language models. The fund limits redemptions to quarterly windows to balance liquidity with the long-term nature of venture assets.

In addition to ARKVX, other pathways for retail investors include publicly traded companies that hold stakes in private firms. For example, Alphabet (Google’s parent company) has been an investor in SpaceX since 2015, offering indirect exposure through its stock. Similarly, some venture funds and pre-IPO marketplaces now allow accredited and non-accredited investors to purchase shares or tokenized representations of private companies before their public debut.

Despite the accessibility, investing in pre-IPO companies carries significant risks. These include limited liquidity, as shares may be subject to lock-up periods or redemption restrictions; valuation uncertainty, since private companies are not subject to the same disclosure requirements as public firms; and the potential for total loss if the company fails to go public or underperforms after listing. Financial advisors caution that such investments should only represent a small portion of a diversified portfolio.

As of April 2026, SpaceX has confidentially filed a draft registration with the U.S. Securities and Exchange Commission (SEC), signaling plans for a potential IPO. Reports indicate the company is targeting a valuation of up to $1.75 trillion, which would make it one of the largest technology IPOs in history. The filing follows a reported merger between SpaceX and Elon Musk’s AI startup xAI, which some sources describe as valuing xAI at $1.25 trillion prior to the combination.

While the exact timing of the SpaceX IPO remains uncertain, the availability of pre-IPO investment vehicles has lowered the barrier for retail investors seeking early access to high-profile private companies. However, experts emphasize that due diligence and risk awareness are essential, as the pre-IPO market remains less regulated and more volatile than public equities.