Fundrise

Growth

Tech

Fund,

LLC

PORTFOLIO

COMPOSITION

(UNAUDITED)

December

31,

2023

1

PORTFOLIO

HOLDINGS

The

following

chart

provides

a

visual

breakdown

of

the

Fund,

by

the

industry

sectors

that

the

underlying

securities

represent,

as

a

percentage

of

the

total

investments.

Fundrise

Growth

Tech

Fund,

LLC

Schedule

of

Investments

(UNAUDITED)

December

31,

2023

2

See

accompanying

notes

to

the

schedule

of

investments.

(Amounts

in

thousands)

Description

Par/Shares

Security

Type

Value

as

of

December

31,

2023

%

of

Net

Assets

Technology

Private

Equity

Data

Infrastructure

Databricks,

Inc.

 (1)(2)(3)(4)

382‌

Common

Stock

$

28,067‌

23.1‌%

dbt

Labs,

Inc.

 (1)(2)(5)

441‌

Preferred

Stock

15,000‌

12.4‌%

Databricks,

Inc.

 (1)(2)(5)

122‌

Common

Stock

8,874‌

7.3‌%

Vanta,

Inc.

 (1)(2)(5)

555‌

Preferred

Stock

5,000‌

4.1‌%

Immuta,

Inc.

 (1)(2)(5)

80‌

Common

Stock

1,021‌

0.8‌%

Total

Data

Infrastructure

(Cost

$54,914

)

$

57,962‌

47.7‌%

Vertical/Horizontal

Software

ServiceTitan,

Inc.

 (1)(2)(5)

154‌

Common

Stock

$

10,000‌

8.3‌%

Canva,

Inc.

 (1)(2)(5)

6‌

Common

Stock

6,220‌

5.1‌%

Total

Vertical/Horizontal

Software

(Cost

$

16

,

220

)

$

16

,

220‌

1

3

.

4‌

%

Artificial

Intelligence

Anthropic

PBC

 (1)(2)(4)(5)

218‌

Preferred

Stock

$

7,072‌

5.8‌%

HOF

Capital

AP

Growth,

LLC

 (1)(2)(5)(6)

N/A

Private

Fund

5,250‌

4.3‌%

AI-LLM,

LLC

 (1)(2)(5)(7)

N/A

Common

Stock

1,597‌

1.3‌%

Anyscale,

Inc.

 (1)(2)(5)

300‌

Common

Stock

1,494‌

1.2‌%

Theory

Ventures,

LP

 (1)(2)(3)(8)

N/A

Private

Fund

574‌

0.5‌%

Luminos,

Inc.

 (1)(2)(5)

N/A

Simple

Agreement

for

Future

Equity

100‌

0.1‌%

Total

Artificial

Intelligence

(Cost

$17,610

)

$

16,087‌

13.2‌%

Defense

Technology

Anduril

Industries,

Inc.

 (1)(2)(4)(5)

313‌

Preferred

Stock

$

6,021‌

4.9‌%

Total

Defense

Technology

(Cost

$6,021)

$

6,021‌

4.9‌%

Property

Technology

Inspectify,

Inc.

 (1)(2)(5)

N/A

Simple

Agreement

for

Future

Equity

$

4,000‌

3.3‌%

Jetty

National,

Inc.

 (1)(2)(5)

611‌

Preferred

Stock

2,000‌

1.6‌%

Total

Property

Technology

(Cost

$6,000

)

$

6,000‌

4.9‌%

Total

Technology

Private

Equity

(Cost

$100,765)

$

102,290‌

84.1‌%

Technology

Fixed

Income

ZoomInfo

Technologies,

LLC/ZoomInfo

Finance

Corp.,

3.88%,

02/01/29

 (9)

$

3,000‌

Corporate

Non-Convertible

Bond

$

2,723‌

2.3‌%

Elastic

NV,

4.13%,

07/15/29

 (9)

2,250‌

Corporate

Non-Convertible

Bond

2,068‌

1.7‌%

Twilio,

Inc.,

3.63%,

03/15/29

2,000‌

Corporate

Non-Convertible

Bond

1,827‌

1.5‌%

Uber

Technologies,

Inc.,

6.25%,

01/15/28

 (9)

1,000‌

Corporate

Non-Convertible

Bond

1,003‌

0.8‌%

Splunk,

Inc.,

1.13%,

06/15/27

 (9)

1,000‌

Corporate

Convertible

Bond

974‌

0.8‌%

Match

Group

Holdings

II,

LLC,

5.63%,

02/15/29

 (9)

1,000‌

Corporate

Non-Convertible

Bond

972‌

0.8‌%

Block,

Inc.,

2.75%,

06/01/26

 (9)

1,000‌

Corporate

Non-Convertible

Bond

944‌

0.8‌%

Twilio,

Inc.,

3.88%,

03/15/31

1,000‌

Corporate

Non-Convertible

Bond

893‌

0.7‌%

Jamf

Holding

Corp.,

0.13%,

09/01/26

 (9)

1,000‌

Corporate

Convertible

Bond

857‌

0.7‌%

Total

Technology

Fixed

Income

(Cost

$11,924)

$

12,261‌

10.1‌%

Short-Term

Investments

Allspring

Government

Money

Market

Fund,

Select

Class,

5.42%

 (10)

5,536‌

Money

Market

Fund

$

5,536‌

4.6%

Northern

Institutional

U.S.

Government

Select

Portfolio,

5.22%

 (10)(11)

1‌

Money

Market

Fund

1‌

0.0%

Total

Short-Term

Investments

(Cost

$5,537)

$

5,537‌

4.6‌%

Total

investments,

at

value

(Cost

$118,226)

$

120,088‌

98.8‌%

Other

assets

in

excess

of

liabilities

1,501‌

1.2‌%

Total

Net

Assets

$

121,589‌

100.0‌%

LLC

Limited

Liability

Company

LP

Limited

Partnership

(1)

Non-income

producing

investment.

(2)

Restricted

security.

The

aggregate

value

of

restricted

securities

at

December

31,

2023

is

approximately

$102,290

(amount

in

thousands)

and

represents

84.1%

of

net

assets.

See

Note

2,

Summary

of

Significant

Accounting

Policies

for

additional

information.

Fundrise

Growth

Tech

Fund,

LLC

Schedule

of

Investments

(UNAUDITED)

December

31,

2023

3

See

accompanying

notes

to

the

schedule

of

investments.

(3)

Investment

valued

using

net

asset

value

per

share

(or

its

equivalent)

as

a

practical

expedient.

See

Note

2,

Summary

of

Significant

Accounting

Policies

-

Fair

Value

Measurement

for

additional

information.

(4)

Shares

held

through

an

interim

administrative

vehicle.

(5)

Investments

classified

as

Level

3

within

the

three-tier

fair

value

hierarchy.

See

the

accompanying

notes

to

the

schedule

of

investments

for

an

explanation

of

this

hierarchy,

as

well

as

a

list

of

significant

unobservable

inputs

used

in

the

valuation

of

these

instruments.

(6)

Subsequent

to

December

31,

2023,

HOF

Capital

AP

Growth,

LLC,

through

a

related

Single

Purpose

Vehicle

(SPV),

closed

on

the

tender

offer

investment

in

a

leading

private

North

American-based

artificial

intelligence

and

large

language

model

provider

(leading

defined

as

a

top

5

in

capital

raised

among

North

American-based

companies

primarily

focused

on

building

and

serving

foundation

models

as

of

the

reporting

date).

(7)

AI-LLM,

LLC

holds

a

foreign

investment

in

a

leading

private

North

American-based

artificial

intelligence

and

large

language

model

provider

(leading

defined

as

a

top

5

in

capital

raised

as

of

the

reporting

date

among

North

American-based

companies

primarily

focused

on

building

and

serving

foundation

models).

(8)

Limited

partnership

with

a

10-year

term.

Redemptions

are

not

permitted.

There

are

unfunded

commitments

of

$

4,366

(amount

in

thousands)

as

of

December

31,

2023.

(9)

Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933.

These

securities

may

be

resold

to

qualified

institutional

buyers

in

transactions

exempt

from

registration.

At

the

period

end,

the

value

of

these

securities

amounted

to

$9,541

(amount

in

thousands)

or

7.9%

of

net

assets.

(10)

Rate

disclosed

is

representative

of

the

seven-day

effective

yield

as

of

December

31,

2023.

(11)

Value

is

less

than

0.05%

of

Total

Net

Assets.

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)

December

31,

2023

4

1.

Formation

and

Organization

Fundrise

Growth

Tech

Fund,

LLC

(the

“Fund”

or

the

“Registrant”)

is

a

Delaware

limited

liability

company

and

has

elected

to

be

taxed

as

a

C

corporation.

The

Fund

operates

in

a

manner

intended

to

qualify

for

treatment

as

a

regulated

investment

company

(“RIC”)

for

U.S.

federal

income

tax

purposes

under

part

I

of

Subchapter

M

of

Chapter

1

of

the

Internal

Revenue

Code

of

1986,

as

amended

(the

“Code”).

The

Fund

is

organized

as

a

continuously

offered,

non-diversified,

closed-end

management

investment

company

registered

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“1940

Act”).

The

Fund’s

registration

statement

was

declared

effective

on

May

11,

2022.

The

Fund

commenced

investment

operations

on

July

25,

2022.

The

Fund’s

investment

objective

is

to

provide

total

return

primarily

through

long-term

capital

appreciation.

The

Fund

seeks

to

achieve

its

investment

objective

by

investing

in

technology

companies,

with

a

primary

focus

on

the

equity

securities

(e.g.,

common

stock,

preferred

stock,

and

convertible

debt)

of

certain

privately

held,

mid-to-late-stage,

growth

companies

(“Portfolio

Companies”),

or

other

investments

(including

derivatives

and

debt)

that

have

economic

characteristics

similar

to

investments

in

technology

companies.

Generally,

the

Fund’s

investment

strategy

is

to

invest

at

least

80%

of

its

net

assets

(plus

the

amount

of

any

borrowings

for

investment

purposes)

in

the

securities

of

private

and

public

technology

and

technology-related

companies

(referred

to

herein

as

“technology

companies”)

and

other

investments

(including

derivatives

and

debt)

that

have

economic

characteristics

similar

to

investments

in

technology

companies.

The

investment

adviser

to

the

Fund

is

Fundrise

Advisors,

LLC

(the

“Adviser”),

an

investment

adviser

registered

with

the

U.S.

Securities

and

Exchange

Commission

(“SEC”)

under

the

Investment

Advisers

Act

of

1940,

as

amended.

The

Adviser

is

a

wholly-

owned

subsidiary

of

Rise

Companies

Corp.

(“Rise

Companies”

or

the

“Sponsor”),

the

Fund’s

sponsor.

Subject

to

the

supervision

of

the

Board

of

Directors

of

the

Fund

(the

“Board”),

the

Adviser

is

responsible

for

directing

the

management

of

the

Fund’s

business

and

affairs,

managing

the

Fund’s

day-to-day

affairs,

and

implementing

the

Fund’s

investment

strategy.

2.

Summary

of

Significant

Accounting

Policies

Valuation

Oversight

Pursuant

to

SEC

Rule

2a-5

under

the

1940

Act,

the

Board

has

approved

the

Adviser

as

the

Fund’s

Valuation

Designee

(“Valuation

Designee”),

to

provide

administration

and

oversight

of

the

Fund’s

valuation

policies

and

procedures.

The

Fund

values

its

investments

in

accordance

with

such

procedures.

Generally,

portfolio

securities

and

other

assets

for

which

market

quotations

are

readily

available

are

valued

at

market

value,

which

is

ordinarily

determined

on

the

basis

of

official

closing

prices

or

the

last

reported

sales

prices.

If

market

quotations

are

not

readily

available

or

are

deemed

unreliable,

the

Fund

will

use

the

fair

value

of

the

securities

or

other

assets

as

determined

by

the

Adviser

in

good

faith,

taking

into

consideration

all

available

information

and

other

factors

that

the

Adviser

deems

pertinent,

in

each

case

subject

to

the

overall

supervision

and

responsibility

of

the

Board.

In

calculating

the

Fund’s

net

asset

value,

the

Adviser,

subject

to

the

oversight

of

the

Board,

uses

various

valuation

methodologies.

To

the

extent

practicable,

the

Adviser

generally

endeavors

to

maximize

the

use

of

observable

inputs

and

minimize

the

use

of

unobservable

inputs

by

requiring

that

the

most

observable

inputs

are

to

be

used

when

available.

The

availability

of

valuation

techniques

and

observable

inputs

can

vary

from

investment

to

investment

and

are

affected

by

a

wide

variety

of

factors.

When

valuation

is

based

on

models

or

inputs

that

are

less

observable

or

unobservable

in

the

market,

the

determination

of

fair

value

requires

more

judgment,

and

may

involve

alternative

methods

to

obtain

fair

values

where

market

prices

or

market-based

valuations

are

not

readily

available.

As

a

result,

the

Adviser

may

exercise

a

higher

degree

of

judgment

in

determining

fair

value

for

certain

securities

or

other

assets.

Fair

Value

Measurement

The

following

is

a

summary

of

certain

methods

generally

used

currently

to

value

investments

of

the

Fund

under

the

Fund’s

valuation

procedures:

The

Fund

applies

FASB

ASC

Topic

820,

Fair

Value

Measurement,

as

amended,

which

establishes

a

framework

for

measuring

fair

value

in

accordance

with

U.S.

GAAP

and

required

disclosures

of

fair

value

measurement.

U.S.

GAAP

defines

the

fair

value

as

the

price

that

the

Fund

would

receive

to

sell

an

asset

or

pay

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date.

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)

December

31,

2023

5

The

Fund

determines

the

fair

value

of

certain

investments

in

accordance

with

the

fair

value

hierarchy

that

requires

an

entity

to

maximize

the

use

of

observable

inputs.

The

fair

value

hierarchy

includes

the

following

three

levels

based

on

the

objectivity

of

the

inputs,

which

were

used

for

categorizing

the

assets

or

liabilities

for

which

fair

value

is

being

measured

and

reported:

Level

1

–

Quoted

market

prices

in

active

markets

for

identical

assets

or

liabilities.

Level

2

–

Significant

other

observable

inputs

(e.g.,

quoted

prices

for

similar

items

in

active

markets,

quoted

prices

for

identical

or

similar

items

in

markets

that

are

not

active,

inputs

other

than

quoted

prices

that

are

observable

such

as

interest

rate

and

yield

curves,

and

market-corroborated

inputs).

Level

3

–

Valuation

generated

from

model-based

techniques

that

use

inputs

that

are

significant

and

unobservable

in

the

market.

These

unobservable

assumptions

reflect

estimates

of

inputs

that

market

participants

would

use

in

pricing

the

asset

or

liability.

Valuation

techniques

may

include

use

of

discounted

cash

flow

methodologies

or

similar

techniques,

which

incorporate

management’s

own

estimates

of

assumptions

that

market

participants

would

use

in

pricing

the

instrument

or

other

valuation

assumptions

that

require

significant

management

judgment

or

estimation.

Investments

in

registered

investment

companies,

including

money

market

funds,

are

valued

at

the

NAV

as

of

the

close

of

each

business

day.

To

the

extent

these

securities

are

actively

traded,

they

are

categorized

in

Level

1

of

the

fair

value

hierarchy.

Fixed

income

securities

may

be

valued

by

an

outside

pricing

service

overseen

by

the

Valuation

Designee.

The

pricing

service

may

employ

a

pricing

model

that

takes

into

account,

among

other

things,

bids,

yield

spreads

and/or

other

market

data

and

specific

security

characteristics.

In

the

event

prices

or

quotations

are

not

readily

available

or

that

the

application

of

these

valuation

methods

results

in

a

price

for

an

investment

that

is

deemed

to

be

not

representative

of

the

fair

value

of

such

investment,

fair

value

will

be

determined

in

good

faith

by

the

Valuation

Designee,

in

accordance

with

the

valuation

policy

and

procedures

approved

by

the

Board.

To

the

extent

these

securities

are

actively

traded,

they

are

categorized

in

Level

2

of

the

fair

value

hierarchy.

The

majority

of

the

Fund’s

investments

are

expected

to

have

no

readily

available

market

quotations

and,

as

such,

will

be

valued

at

fair

value

in

good

faith.

There

is

no

single

standard

for

determining

the

fair

value

of

a

security.

Rather,

fair

value

calculations

will

involve

significant

professional

judgment

in

the

application

of

both

observable

and

unobservable

attributes.

For

mid-to-late

growth

Portfolio

Companies,

traditional

valuation

methods

(e.g.,

discounted

cash

flow)

are

often

a

less

useful

tool

for

valuing

investments

in

accordance

with

ASC

820.

As

such,

until

the

Portfolio

Companies

grow

to

a

point

where

traditional

valuation

methods

apply,

the

Fund

may

deem

it

more

appropriate

to

utilize

other

valuation

methodologies.

Late-stage

private

companies

or

“pre-IPO

companies”

traditionally

raise

capital

from

investors

in

organized

funding

rounds.

During

such

funding

rounds,

a

pre-IPO

company

will

seek

a

lead

investor

who

will,

to

their

best

effort,

define

a

valuation

of

the

company.

Therefore,

the

valuation

of

the

Fund’s

Portfolio

Companies

may

be

adjusted

when

a

new

valuation

is

set

by

the

lead

investor

in

the

next

funding

round.

As

such,

the

Fund

may

adjust

the

valuation

of

its

Portfolio

Companies

with

each

new

funding

round,

which

is

a

generally

accepted

methodology

for

the

valuation

of

pre-IPO

companies

like

the

ones

the

Fund

intends

to

invest

in.

However,

while

the

valuation

as

of

the

latest

funding

round

is

a

prominent

factor

in

the

Fund’s

valuation

process,

it

is

not

the

only

factor

that

the

Fund

will

consider

when

valuing

its

portfolio

investments.

For

investments

in

companies

that

are

not

considered

“pre-IPO

companies”,

valuation

methods

utilized

may

include,

but

are

not

limited

to

the

following:

sales

comparison

approach;

discounted

cash

flow

method;

hypothetical

sales

method;

and

appraisals

received

from

one

or

more

pricing

services.

In

addition,

the

Fund

may

utilize:

an

analysis

of

financial

ratios

and

valuation

metrics

of

the

portfolio

companies

that

issued

private

equity

securities

to

peer

companies

that

are

public;

an

analysis

of

the

Portfolio

Companies’

most

recent

financial

statements

and

forecasts;

an

analysis

of

the

markets

in

which

the

Portfolio

Company

does

business;

and

other

relevant

factors.

With

respect

to

any

portion

of

the

Fund’s

assets

that

are

invested

in

one

or

more

investment

funds,

the

fair

value

may

be

calculated

based

upon

the

NAVs

of

those

investment

funds

as

a

practical

expedient,

where

such

valuation

methodologies

employed

by

the

investment

funds

reflects

fair

value

pricing

and

the

effects

of

using

fair

value

pricing.

The

Fund

may

establish

certain

thresholds

or

triggers

that

intend

to

capture

fundamental

changes

in

the

value

of

the

Portfolio

Company

that

would

affect

the

anticipated

return

on

the

Fund’s

investment.

Examples

of

certain

thresholds

or

triggers

may

include,

an

unexpected

business

or

technology

breakthrough,

faster

than

anticipated

revenue

growth,

a

fundamental

failure

of

the

technology,

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)

December

31,

2023

6

the

loss

of

a

key

customer,

or

the

success

of

a

competitor

in

the

same

industry.

Additionally,

the

Fund

may

consider

several

additional

factors

(if

present),

including

but

not

limited

to

the

implied

valuation

of

the

asset

as

reflected

by

stock

purchase

contracts

reported

in

private

markets,

fundamental

analytical

data

relating

to

the

investment

in

the

security,

the

nature

and

duration

of

any

restriction

on

the

disposition

of

the

security,

the

cost

of

the

security

at

the

date

of

purchase,

or

the

liquidity

of

the

market

for

the

security.

The

Fund

may

also

consider

periodic

financial

statements

(audited

and

unaudited)

or

other

information

provided

by

the

Portfolio

Companies

to

investors

or

prospective

investors,

to

the

extent

that

it

is

available.

Due

to

the

inherent

uncertainty

of

determining

the

fair

value

of

investments

that

do

not

have

a

readily

available

market

value,

the

fair

value

of

the

Fund’s

investments

may

differ

significantly

from

the

values

that

would

have

been

used

had

a

readily

available

market

value

existed

for

such

investments,

and

the

differences

could

be

material.

The

following

is

a

summary

of

the

inputs

used

as

of

December

31,

2023

,

in

valuing

the

Fund’s

investments

carried

at

fair

value

(amounts

in

thousands)

:

The

following

is

a

summary

of

quantitative

information

about

the

significant

unobservable

inputs

of

the

Fund’s

Level

3

investments

as

of

December

31,

2023

(amounts

in

thousands)

.

The

tables

are

not

intended

to

be

all-inclusive

but

instead

capture

the

significant

unobservable

inputs

relevant

to

the

Fund’s

determination

of

fair

value.

Level

1

Level

2

Level

3

Practical

Expedient

(1)

Total

Common

Stock

$

–‌

$

–‌

$

29,206‌

$

28,067‌

$

57,273‌

Preferred

Stock

–‌

–‌

35,093‌

–‌

35,093‌

Corporate

Non-Convertible

Bonds

–‌

10,430‌

–‌

–‌

10,430‌

Private

Funds

–‌

–‌

5,250‌

574‌

5,824‌

Short-Term

Investments

5,537‌

–‌

–‌

–‌

5,537‌

Simple

Agreement

for

Future

Equity

–‌

–‌

4,100‌

–‌

4,100‌

Corporate

Convertible

Bonds

–‌

1,831‌

–‌

–‌

1,831‌

Total

Investments

$

5,537‌

$

12,261‌

$

73,649‌

$

28,641‌

$

120,088‌

(1)

As

a

practical

expedient,

certain

investments

that

are

measured

at

fair

value

using

the

net

asset

value

per

share

(or

its

equivalent)

have

not

been

categorized

in

the

fair

value

hierarchy.

The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Schedule

of

Investments.

Investment

Fair

Value

Valuation

Technique

Unobservable

Input

Range

Impact

to

Valuation

from

an

Increase

in

Input

(1)

Preferred

Stock

$

28,021

Recent

Transaction

Transaction

Price

N/A

Increase

Common

Stock

29,206

Recent

Transaction

Transaction

Price

N/A

Increase

Preferred

Stock

7,072

Market

Transaction

Transaction

Price

N/A

Increase

Private

Fund

5,250

Recent

Transaction

Transaction

Price

N/A

Increase

Simple

Agreement

for

Future

Equity

4,100

Recent

Transaction

Transaction

Price

N/A

Increase

Total

$

73,649

(1)

Represents

the

expected

directional

change

in

the

fair

value

of

the

Level

3

investments

that

would

result

from

an

increase

in

the

corresponding

input.

A

decrease

to

the

unobservable

input

would

have

the

opposite

effect.

Significant

changes

in

these

inputs

could

result

in

significantly

higher

or

lower

fair

value

measurements.

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)

December

31,

2023

7

The

following

is

a

reconciliation

of

investments

in

which

significant

unobservable

inputs

(Level

3)

were

used

in

determining

fair

value

(amounts

in

thousands)

:

Restricted

Investments

The

Fund

may

purchase

securities

for

which

there

is

a

limited

trading

market

or

which

are

subject

to

restrictions

on

resale

to

the

public.

Restricted

securities

and

securities

for

which

there

is

a

limited

trading

market

may

be

significantly

more

difficult

to

value

due

to

the

unavailability

of

reliable

market

quotations

for

such

securities,

and

investment

in

such

securities

may

have

an

adverse

impact

on

NAV.

The

following

are

the

restricted

investments

held

by

the

Fund

as

of

December

31,

2023

(amounts

in

thousands)

:

Common

Stock

Preferred

Stock

Private

Fund

Simple

Agreement

for

Future

Equity

Total

Balance

as

of

March

31,

2023

$

1,022‌

$

5,000‌

$

–‌

$

–‌

$

6,022‌

Purchases

28,184‌

31,556‌

5,250‌

4,100‌

69,090‌

Realized

gain

(loss)

–‌

–‌

–‌

–‌

–‌

Net

change

in

unrealized

appreciation/depreciation

–‌

(1,463‌)

–‌

–‌

(1,463‌)

Sales

–‌

–‌

–‌

–‌

–‌

Transfers

into

Level

3

–‌

–‌

–‌

–‌

–‌

Transfers

out

of

Level

3

–‌

–‌

–‌

–‌

–‌

Balance

as

of

December

31,

2023

$

29,206‌

$

35,093‌

$

5,250‌

$

4,100‌

$

73,649‌

Net

change

in

unrealized

appreciation/depreciation

for

the

period

ended

December

31,

2023

related

to

Level

3

investments

held

at

December

31,

2023

$

–‌

$

(1,463‌)

$

–‌

$

–‌

$

(1,463‌)

Description

Acquisition

Date

Shares

Cost

Value

as

of

December

31,

2023

%

of

Net

Assets

Databricks,

Inc.

07/14/23

382‌

$

25,019‌

$

28,067‌

23.1‌%

dbt

Labs,

Inc.

09/22/23

441‌

15,000‌

15,000‌

12.4‌%

ServiceTitan,

Inc.

06/26/23

154‌

10,000‌

10,000‌

8.3‌%

Databricks,

Inc.

11/20/23

122‌

8,874‌

8,874‌

7.3‌%

Anthropic

PBC

12/06/23

218‌

8,535‌

7,072‌

5.8‌%

Canva,

Inc.

09/15/23

6‌

6,220‌

6,220‌

5.1‌%

Anduril

Industries,

Inc.

10/27/23

313‌

6,021‌

6,021‌

4.9‌%

HOF

Capital

AP

Growth,

LLC

12/29/23

N/A

5,250‌

5,250‌

4.3‌%

Vanta,

Inc.

09/07/22

555‌

5,000‌

5,000‌

4.1‌%

Inspectify,

Inc.

06/30/23

N/A

4,000‌

4,000‌

3.3‌%

Jetty

National,

Inc.

08/09/23

611‌

2,000‌

2,000‌

1.6‌%

AI-LLM,

LLC

08/31/23

N/A

1,597‌

1,597‌

1.3‌%

Anyscale,

Inc.

10/18/23

300‌

1,494‌

1,494‌

1.2‌%

Immuta,

Inc.

03/28/23

80‌

1,021‌

1,021‌

0.8‌%

Theory

Ventures,

LP

04/28/23

N/A

634‌

574‌

0.5‌%

Luminos,

Inc.

11/09/23

N/A

100‌

100‌

0.1‌%

Total

$

100,765‌

$

102,290‌

84.1‌%