Skip to main content
What We Do: A Letter To Investors From Cathie Wood Read Now

Looking For Our European Funds?

Click Here
About How To Invest
ARK Invest logo
You Are Entering ark-funds.com

Please read this page before proceeding, as it explains certain restrictions imposed by law on the distribution of this information and the countries in which the funds are authorized for sale. By proceeding, you are confirming you understand that ARK Investment Management LLC or its affiliates (collectively, “ARK”), makes no representation that the content of the website is appropriate for use in all locations, or that the transactions, securities, products, instruments or services discussed at this website are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties.


This section of the website is operated by ARK, and is only directed at U.S. investors or those otherwise authorized to conduct investment business in the U.S. Persons resident in territories other than the United States should not access this website.


It is your responsibility to be aware of and to observe all applicable laws and regulations of any relevant jurisdiction. Certain of the funds and advisory products and services referenced on this website may be managed or offered/provided by affiliates of ARK. Additionally, certain of the funds described in the following pages may be marketed in certain jurisdictions only. Any entity forwarding the material or information contained on this website, which is produced by ARK in the United States, to other parties takes full responsibility for ensuring compliance with applicable securities laws in connection with its distribution.


This website only includes information on those funds that are registered for sale in the United States.


By accessing this website, you are confirming that you agree to the Terms and Conditions of this website and that you are resident in the United States or those otherwise authorized to conduct investment business in the U.S.


The contents of this website have been prepared for informational purposes only without regard to the investment objectives, financial situation, or means of any particular person or entity, and ARK is not soliciting any action based upon them. No information included on this website is to be construed as investment advice or as a recommendation or a representation about the suitability or appropriateness of any fund; or an offer to buy or sell, or the solicitation of an offer to buy or sell, any security, financial product, or instrument; or to participate in any particular trading strategy. ARK recommends that you seek independent financial and tax advice before making any investment decisions. Investment in any of the funds described in this website should only be made on the basis of the terms and conditions of the most recent applicable offering documents (including any relevant supplements).


All material has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. Some of the content on this website may contain certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected. From time to time, ARK may also make additional features available to users on this website on such terms and conditions as may be set forth in a modification to this Agreement or otherwise on the ARK website.


The ARK ETF Trust Thematic Actively Managed ETF’s are distributed by Foreside Fund Services, LLC (“Foreside“), which is not affiliated with ARK Investment Management LLC. Check the background of Foreside on FINRA’s BrokerCheck.


You should carefully consider the investment objective, risks, charges and expenses of a Fund before investing. A Fund’s prospectus and summary prospectus contain this and other important information about a Fund, which can be obtained by clicking the corresponding link or dialing the indicated phone number herein. Please read the appropriate prospectus carefully before investing.


GENERAL RISK FACTORS


You should be aware that past performance is not a reliable indicator of future performance. Please note that the price of units or shares and the income from them can fall as well as rise and you may not get back the amount originally invested. Income receivable may vary from the amount of income projected at the time of making the investment.


Exchange rate fluctuations may affect the value of an investment and any income derived from it.


If you exercise any right to redeem, you may not get back the amount initially invested if the unit or share price has fallen since you invested. Deductions for charges and expenses, particularly the initial charge (if any), are not made uniformly throughout the life of the investment, so if you redeem out of the investment during the early years, you may not get back the amount invested.


There can be no guarantee that the tax position or proposed tax position prevailing at the time of an investment will not change. Dividends and capital gains on securities issued in the relevant funds may be subject to withholding taxes imposed by the countries in which each particular fund invests.


The offering documents for the investment funds contain important information summarizing the relevant risk factors pertaining to the investment or relevant funds. Please note, however, that no summary of risk factors is exhaustive, and there may be other risks that could affect your investment. For your own benefit and protection you should read the most recent offering documents (including any relevant supplements) carefully before investing. If you do not understand any point please ask for further information.


The information provided on this website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, or which would subject any of the funds described herein, ARK (including its affiliates) or any of their products or services to any registration, licensing or other authorization requirement within such jurisdiction or country. Nothing on this website shall be considered a solicitation to buy or sell a security, product or service (including advisory service) to any person.


HYPERLINKS


ARK does not recommend or endorse and accepts no responsibility for the content of any website not operated by ARK which you may visit by following a link from this website. You acknowledge and agree that neither ARK nor any of its affiliates is responsible for the availability of such third-party websites or resources, does not endorse, approve, investigate or verify, and is not responsible or liable for any content, advertising, products, or other materials on or available from such websites or resources. You further agree that neither ARK nor any of its affiliates shall be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, products or services available on such external websites or resources. These links are provided as a convenience and solely for informational purposes. ARK is not making any recommendation to invest in, purchase, or sell any securities or other products or services offered on the linked websites, nor has ARK sought to verify or confirm the information contained in the linked websites. Accordingly, ARK disclaims any responsibility for the linked websites.


No other website, without the prior written permission of ARK, is authorized to link to any part of this website.


COOKIES


ARK uses cookies for collecting user information from certain pages of this website. A cookie is a file that is stored on the hard disk of a computer by the web browser on a computer. It contains information sent by the website that a user has visited. A cookie identifies users and can store information about them and their use of a website. ARK uses cookies to keep track of user activity, which allows ARK to identify which areas of the website are more interesting to the users so that improvements can be made to this website.


ARK expressly reserves the right to monitor any use of this website.


I confirm that I have read and accept the Terms and Conditions of using this website and that I am based in the United States or those otherwise authorized to conduct investment business in the United States.

ARK Venture Commentary, 3/31/2023

April 06, 2023 | Venture Fund

ARK's Venture Commentary is meant to provide ARK's thoughts on the current state of the Venture Capital space.

Silicon Valley Breaks The Bank

Silicon Valley Bank (SVB) collapsed under the weight of depositor outflows as its customers worried about the bank’s solvency due to mark-to-market losses embedded in its mortgage-backed security portfolio. Although the Federal Deposit Insurance corporation (FDIC) guaranteed SVB depositors, the emergency action could not forestall broader destabilization of the deposit base across the banking industry.

ARK’s take

While the ramifications of SVB’s collapse continue to unfold across the economy, credit is likely to tighten as the banking system adjusts to the higher cost of capital. Additional bank failures could follow as skittish customers seek safe haven for what they once believed were safe assets. SVB served an important financing function within the start-up ecosystem.[1] We are hopeful that those business lines will continue to operate. The FDIC took control of the bank on March 10, and SBV remains in receivership as the bankruptcy process unfolds and aspects of the business are sold off. On March 27, for example, First Citizens Bank acquired $72 billion of the SVB deposits and loans business—now called Silicon Valley Bridge Bank (SVBB).[2] In our view, interest rate risk catalyzed this banking crisis—not credit deterioration, as is more typical—suggesting that further financial unwinding could follow.


Source: ARK Invest, Google Trends.

Source: For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security.

GPT4 Enters The World Of Chat

OpenAI released its long-rumored, radically performant AI model, GPT4,[3] whose logical reasoning skills advance substantially beyond those of its predecessors. The model can generate large blocks of working code, scores quite well on a range of tests—the equivalent of college credit on an Advanced Placement calculus exam, for example, and in the 90th percentile on the Bar exam. While still in “closed beta,” the model also can interpret and respond to images, coding a web layout based on hand-drawn sketches, for example.[4]

ARK’s take

In our view, AI models like GPT-4 have the potential to supercharge knowledge-worker productivity, and software coding is likely to be the first, most important site in which that uplift will manifest. ARK recently estimated[5] that AI software would increase the average software developer’s productivity by 10x by 2030. GPT4’s capabilities appear to have accelerated that timeline dramatically, as multiple developer teams already report needing just a few hours for programming modules that recently took take them days to complete.[6] Custom software that enables them to stitch together and accelerate all work functions is likely to proliferate as enterprises take advantage of this new capability.

Diffusion Models Approach Photorealism

Adobe, Microsoft, and Midjourney all have launched new diffusion-based image generation AI models: Microsoft is embedding the capability in its revitalized Bing;[7] Adobe is catering to liability-averse corporates by touting its model’s fully licensed training data set;[8] and Midjourney upgraded users to its 5th model release that reaches an unprecedented level of photorealism.

ARK’s take

AI is advancing at an astonishing rate. The first paper introducing the diffusion architecture was published in mid 2020.[9] Midjourney launched 20 months later, and within a year its model consistently generates novel photorealistic images from a text prompt. The models should achieve higher definition in the near future, offering more precise output control and integrating improvements into video. Moreover, advances in diffusion models are likely to advance far beyond image generation, as academic papers already demonstrate how the diffusion architecture applies to robotic motion, traffic simulations, and other domains.[10]


Midjourney image generation for the prompt, “a human eye extremely close up, hazel iris, lace-like iris, eyelashes visible framing the image, extreme closeup, the pupil reflects the rest of the room, the eye is staring into the future in awe, highly detailed.”

Investors should carefully consider the investment objectives and risks as well as charges and expenses of the ARK Venture Fund before investing. This and other information are contained in the ARK Venture Fund’s prospectus, which may be obtained by visiting www.ark-ventures.com. The prospectus should be read carefully before investing.

To view the top 10 holdings in the ARK Venture Fund, click here. To view the most up to date portfolio, click here.

An investment in the ARK Venture Fund is subject to risks and you can lose money on your investment in the ARK Venture Fund. There can be no assurance that the ARK Venture Fund will achieve its investment objectives. The ARK Venture Fund’s portfolio is more volatile than broad market averages. The ARK Venture Fund also has specific risks, which are described below. More detailed information regarding these risks can be found in the ARK Venture Fund’s prospectus.

Foreside Fund Services, LLC, distributor.

ARK Investment Management LLC (“ARK Invest”) is the investment adviser to the ARK Venture Fund.

ARK’s statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. ARK and its clients as well as its related persons may (but do not necessarily) have financial interests in securities or issuers that are discussed. Certain of the statements contained may be statements of future expectations and other forward-looking statements that are based on ARK’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance, or events to differ materially from those expressed or implied in such statements.

Explore ARK Funds

Featured Funds:

ARKVX Icon

ARK Venture Fund

See All

Ready to Invest?

We believe all investors should have access to venture capital, cutting-edge research, impactful education, and a phenomenal user experience. Self-directed investors can download the Titan App and get started today.

Invest Now Here