Federal Register #Investment Company Act Release No. 36308, 812-16031

SEC Notice: Application to Amend Order for ARK Venture Fund and ARK Investment Management LLC – Multi-Class and Tokenized Shares

This notice concerns an application to the SEC by ARK Venture Fund and ARK Investment Management LLC to amend a prior order under the Investment Company Act of 1940. - Applicants: ARK Venture Fund and ARK Investment Management LLC - Purpose: Amend and supersede a previous order to allow registered closed-end management investment companies to issue multiple classes of shares - Includes a class listed on a national securities exchange (Exchange Class) - Includes a class of tokenized shares (Tokenized Class) traded on alternative trading systems (ATSs) or other quotation mediums - Key requirements: - Use of distributed ledger technology for tokenized shares - Exemptions requested from sections 18(a)(2), 18(c), and 18(i) of the Act, as well as from rule 23c3 - Order requested pursuant to section 17(d) and rule 17d-1 - No procurement of products or services is involved - No specific products, part numbers, or quantities are listed

Description

This notice pertains to an application filed by ARK Venture Fund and ARK Investment Management LLC requesting an order to amend and supersede a prior order under the Investment Company Act of 1940. The amendment would allow the funds to issue multiple classes of shares, including a class listed on a national securities exchange and a class of tokenized shares traded on alternative trading systems or other quotation mediums. The application was filed on May 20, 2026, and amended on June 11, 2026, and August 7, 2026. The funds seek exemptions from certain sections of the Act to facilitate these changes.

View original listing