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impending launch: RiverNorth Unicorns fund

David_Snowball
in Fund Discussions
Got notice today that RiverNorth will launch two closed-end, closed-term Unicorn funds investing - one long, one short - in 20 private companies (including both SpaceX and Anthropic) that it anticipates will have IPOs in the near future. The minimum initial investment is $2,000 and the funds will self-liquidate in 24 months, so far as I can tell.

I have an interview request in with Mr. Gallery and the RiverNorth folks, though they're likely locked down by the SEC until launch is authorized. (I suspect it has already been authorized, but regulators are an understandably twitchy bunch.)

It's intriguing, at the very least. If any pressing questions occur to you, feel free to share. If we get to chat, I'll pursue as many of them as seems warranted.

David

Comments

  • yogibearbullyogibearbull
    edited March 11
    From prospectus, strange CEF term structure - 24 months only that may be shortened or lengthened just by board vote.

    With separate long and short funds, the 2 funds will move in opposite directions. The poor performer may be liquidated and better performer may be continued.

    https://www.rivernorth.com/wp-content/uploads/RiveNorth-Long-Prime-Unicorn-Fund-Preliminary-Prospectus_2026.pdf
  • rforno
    Interesting pup....I can't argue with the major holdings, and would maaaayyybeee take a small flyer on it at some point.
  • MarkMark
    Well I won't be paying a premium to buy the IPO I will be watching from the sidelines after shares start trading on the exchange.
  • rforno
    Mark said:

    Well I won't be paying a premium to buy the IPO I will be watching from the sidelines after shares start trading on the exchange.

    +1

  • BenWPBenWP
    @David_Snowball: I think it's Patrick Galley (not Gallery). Makes sense because he's the head chef, not an observer. The older CEFs from the RN galley are cuisine minceure, good should you have too much dough.
  • WABACWABAC
    BenWP said:

    @David_Snowball: I think it's Patrick Galley (not Gallery). Makes sense because he's the head chef, not an observer. The older CEFs from the RN galley are cuisine minceure, good should you have too much dough.

    You're cooking with gas!
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