# Dan Ives Plans $200 Million Fund for Private AI Companies

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/25737
Published: 2026-09-30T10:39:10.000Z
Updated: 2026-09-30T10:39:10.000Z
Section: Business

> Ives Ultra AI Opportunities Inc. plans to sell 20 million shares at $10 each and seek a New York Stock Exchange listing under IVAI, subject to exchange approval.

Dan Ives is preparing a $200 million closed-end fund designed to give public-market investors access to private companies developing artificial intelligence and related infrastructure.

Ives Ultra AI Opportunities Inc. plans to sell 20 million shares at $10 each. The fund would seek to list on the New York Stock Exchange under the ticker IVAI, subject to exchange approval.

The fund expects annual expenses of 3.1% of gross assets. At least 80% of its net assets would be allocated to companies focused on AI or AI infrastructure, with an emphasis on late-stage private companies in the United States.

The strategy may also include non-U.S. companies, publicly traded U.S. companies and private funds. Private funds could account for as much as 15% of the portfolio. The strategy may include [stocks, warrants, convertible securities, private funds, special-purpose vehicles and synthetic equity arrangements](<https://www.tokenpost.com/news/business/23476>).

Dan Ives, a partner and analyst at Yorkville Ives & Co., said private companies are likely to play a major role in the next phase of AI development.

“In this AI revolution, so many of the companies leading it will be private,” Ives said. He described the fund as a public vehicle for buying interests in private companies.

Ives Ultra AI Opportunities Inc. is a newly established, non-diversified closed-end fund without an operating history. Ives Ultra Capital Management LLC is the adviser. Ives serves on the adviser’s board of managers but is not expected to participate in investment decisions.

The fund’s launch and New York Stock Exchange listing remain pending. During the first 12 months after its initial public offering, the fund must make a tender offer for shares held by unaffiliated investors. The redemption value may be below the original offering price.

Private-company valuations may be uncertain, information about holdings may be limited and transfer restrictions may make investments difficult to sell. The fund’s next concrete step is completing the offering and exchange-approval process before launch.

## Links in this article

- [stocks, warrants, convertible securities, private funds, special-purpose vehicles and synthetic equity arrangements](https://www.tokenpost.com/news/business/23476)