KraneShares Artificial Intelligence & Technology ETF became one of the first U.S.-listed exchange-traded funds to directly invest in a private company by acquiring shares in Anthropic, an artificial intelligence research company founded in 2021, said a news release March 4.
A KraneShares spokesperson said this was the first direct investment in a private company by the ETF, which was launched in July and trades under the ticker symbol AGIX.
The spokesperson added that the first ETF to make such an investment was the $32 million Alger AI Enablers & Adopters ETF, which trades under the ticker symbol ALAI and has a stake in closely held SB Technology.
As of March 4, Anthropic represented 4.5% of AGIX’s roughly $22 million in net assets under management.
AGIX was launched July 18 by KraneShares in collaboration with Etna Capital Management, a pioneer in AI venture capital investing, the news release added.
“This transaction redefines what’s possible for ETFs in private markets,” said Derek Yan, senior investment strategist at KraneShares, in the release. “KraneShares has always been dedicated to unlocking investment opportunities that were once out of reach for most investors. By securing direct ownership in Anthropic, a leading private AI company, we are making investing in private companies more accessible.”
Solomon Bier, partner at Etna Capital, said in the release that Etna Capital and KraneShares are “actively working on expanding the pipeline of private investments for AGIX, positioning it as a solution for investors seeking exposure to AI companies across both public and private markets.”
KraneShares has about $10.1 billion in assets under management.
