AngelList Opens USVC Fund to All U.S. Investors at $500 Minimum, With xAI, OpenAI, Anthropic Inside
AngelList's new USVC fund is open to all U.S. investors regardless of accreditation, charges a flat 1% fee with no carry, and already holds stakes in xAI, OpenAI, Anthropic and four other private companies.
On April 22, 2026, AngelList launched USVC, a new fund that opens private-market venture exposure to all U.S. investors regardless of accreditation status. The fund has a $500 minimum investment and charges a flat 1% management fee with no carry or profit share.
What USVC invests in
USVC allocates across three categories: emerging fund managers, company growth rounds, and secondary equity sales. By late March 2026, the fund was approximately 44% deployed across seven private firms, with xAI the largest holding. Current holdings also include OpenAI and Anthropic.
Naval's pitch
AngelList co-founder Naval Ravikant positioned USVC against passive indexing: "the best deals don't let just anyone in." The fund leans on AngelList's "judgment, access, and data" rather than an index-style approach.
Liquidity design
USVC aims to offer quarterly redemptions of up to 5% without requiring an IPO or acquisition to pay investors out — though AngelList was explicit that the redemption target is not guaranteed.
Context
The launch lands in the same week Robinhood announced a $75 million investment in OpenAI for retail traders. Retail access to the top AI private names is quickly becoming a distribution race between fintech platforms.
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