I spend most of my week evaluating what USVC should invest in next.
Today I want to hear from you.
If there's a company you've been watching, I want to know!
This is an open forum to tell us what you want to see next.
Takes about two minutes. My team and I will read every response (and may reach out for a deeper conversation!).
A note on how this gets used: we don't pick holdings by popular vote. Our investment team runs its own diligence, and access to private companies is never guaranteed.
But knowing what you're actually watching tells us something we can't get from a spreadsheet, and it may shape the conversations we have.
Three quick updates from us
1. Why our NAV changed
One of the most common question in my inbox right now is why our NAV moves the way it does.
Short version: public positions are marked to market daily, and fund investments and direct positions start at cost and get re-marked when we have new information.
(Fancy a deeper dive on how are NAV moves? You can read the long version here.)
That's why you'll see movement in our NAV even though we hold mostly illiquid, private companies.
For context, our NAV per share started the year at $19.7332 and sits at $22.07 as of July 28.
That's a return of 11.8% year to date net of management fees and fund expenses (assuming you invested January 2, 2026).
We publish our NAV daily at usvc.com/nav and on financial sites like Nasdaq's fund page for USVCX.
Source: NASDAQ
Reminder: NAV is a fair value estimate on private assets, not a price you could necessarily sell any individual company at today. Our shares aren't exchange-traded. You invest and redeem at NAV. Our valuation policy is summarized in our prospectus available at https://usvc.com/docs
And if you’re an existing USVC investor, you track your performance in app.
This is a screenshot from my personal account dated July 29, 2026.
Inside, you’ll find the current value of your position, your cost basis, and a table of your submissions.
We’re an evergreen fund, so you’re also welcome to make a new investment at any time.
2. Our first repurchase window has closed
We're happy to announce that we just successfully closed our first quarterly repurchase window.
Total requests came in well under the Board approved 5% cap this quarter, so all requests will be met in full.
Repurchase requests are being processed by our fund administrator and payments will land participating LPs once finalized.
If you're still unclear on how our repurchase program works, we wrote the full explanation here. You’ll learn about the up to 5% figure, proration, and where the liquidity comes from.
Repurchase offers are made at the Board's sole discretion and are not guaranteed. Expect to hold your position for years.
3. USVC in a retirement account… soon!
We're aiming to open the ability to invest in USVC through an IRA via a platform partnership in the coming week.
— Ankur Nagpal
P.S. Scrolled to the bottom? We want to hear from you!
Private markets have historically rewarded patient capital.
The investors who've built real positions in venture didn't find the perfect moment. They started early and stayed long.
USVC is how you build that position, starting with as little as $500.
