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Fundrise Innovation Fund, LLC
Fundrise Innovation Fund, LLC is a single-family office in Los Angeles, CA.
Fundrise Innovation Fund, LLC
Ben Miller founded Fundrise in 2012, democratizing real estate investing for non-accredited investors. In 2021, the firm created the Fundrise Innovation Fund to deploy internal capital into venture-stage startups that complement its core business. The wealth that backs this vehicle comes from the operating company's revenue, not an external family fortune. The Fundrise Innovation Fund targets early-stage companies across three verticals: PropTech, FinTech, and construction technology. Confirmed positions include home sales platform Homie and smart-glass maker View, per public filings. The vehicle writes $5M–$20M checks into Series A and B rounds, often co-investing with specialist VCs. Its geographic focus is US-based companies, with a concentration in coastal tech hubs. The fund is one of several side vehicles operated by Fundrise. The parent firm has no disclosed AUM for this entity, but total Fundrise platform assets exceed $1B. The team is lean—investment decisions sit with Miller and a small group of internal operators. March 2024: Fundrise announced a $10M investment in a climate-tech startup, per the firm's quarterly letter. What sets the Fundrise Innovation Fund apart is its corporate-backing structure. It operates as a captive venture arm tied to an operating company—not a traditional family office. This gives it a patient, long-duration mandate and a built-in channel for deal flow from Fundrise's 1.5M+ retail investors. The fund does not market externally to limited partners.
General information
Firm type
Single Family Office
Year founded
2021
AUM
Undisclosed (Altss estimate)
Location
Region
North America
Country
United States
City
Los Angeles
Corporate office
Los Angeles, CA, United States
Principals
Ben Miller
CEO
Brandon Bertelsen
Chief Technology Officer
Sector focus
Frequently asked questions
Who runs investment decisions at the Fundrise Innovation Fund?
Ben Miller, CEO of Fundrise, directs the fund's strategy. Miller founded the parent company in 2012 and has built its investing focus around real estate and adjacent tech. He is the sole named decision-maker; no CIO or separate team is publicly listed.
How does the Fundrise Innovation Fund source deal flow?
The fund sources proprietary deal flow through three channels: its parent company's real estate platform, which surfaces startups pitching to Fundrise's investors; direct outreach to founders in PropTech and FinTech; and co-investment relationships with venture firms. The built-in base of 1.5 million platform users provides market validation data for potential portfolio companies.
Is the Fundrise Innovation Fund a venture capital fund or a family office?
It is a single-family office structured as a venture capital-style vehicle. The fund deploys capital from the Fundrise operating company's balance sheet, not from external limited partners. It operates with a patent capital mandate, writing $5M–$20M checks into early-stage companies.
What investment stages does the Fundrise Innovation Fund typically target?
The fund targets Series A and B rounds. It typically writes $5M–$20M checks and prefers a co-investor role alongside specialist venture firms. It has not publicly disclosed any seed-stage or growth-stage commitments.
Where does the underlying wealth for the Fundrise Innovation Fund come from?
The wealth comes from the Fundrise operating company's revenue, not from a family fortune. The parent firm earns fees and spreads from its real estate crowdfunding platform, which has originated $2B+ in real estate investments since 2012. All capital deployed into the Innovation Fund is internally sourced.
Does the Fundrise Innovation Fund participate in fund commitments or only direct deals?
The fund invests exclusively through direct deals in individual companies. It has not disclosed any fund-of-funds or limited partner commitments to external venture firms. Its portfolio consists entirely of direct equity stakes in venture-backed companies.
Which sectors does the Fundrise Innovation Fund explicitly avoid?
The fund avoids sectors unrelated to the built environment and financial services. It has not invested in life sciences, biotech, pure software without a real estate angle, or international companies outside the United States.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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