The Fundrise Innovation Fund (VCX) has announced a new investment in Erebor Bank, a recently chartered national bank designed to serve the technology industry.
Erebor Bank, founded by Palmer Luckey, co-founder of Oculus VR and Anduril Industries, aims to address a market gap following the 2023 collapse of Silicon Valley Bank, which previously served a significant portion of early-stage technology firms and venture capital funds. The bank is built to cater to startups, technology companies, and their employees and investors.
Erebor Bank plans to offer financial products tailored to the technology sector, including lines of credit backed by crypto or private securities, and loans specifically for AI chips. The bank received conditional approval from U.
S. regulators in October 2025 and was granted its national charter in February 2026, with deposits insured by the FDIC.
Additional investors in Erebor Bank include Founders Fund, Andreessen Horowitz, Lux Capital, and 8VC.
The Fundrise Innovation Fund (VCX) provides individual investors with access to private technology and AI companies. The fund, which is publicly registered, non-diversified, and a closed-end management investment company filed with the SEC in 2021, is designed to bridge the historical gap between individual investors and venture capital opportunities previously limited to institutional investors.
Fundrise, established in 2012 and headquartered in Washington, DC, operates as a direct-to-consumer alternative investment platform. It serves millions of users with investment strategies across real estate, private credit, and venture capital. The company employs technology and finance professionals with regulatory experience, having cleared multiple public offerings with the SEC.
