Federal Register #812-16031

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

This SEC notice concerns an application by ARK Venture Fund and ARK Investment Management LLC to amend a prior regulatory order for their investment funds. - Government buyer: - Securities and Exchange Commission (SEC) - Applicants: - ARK Venture Fund (Initial Fund) - ARK Investment Management LLC (Adviser) - Requested regulatory changes: - Exemptions from sections 18(a)(2), 18(c), and 18(i) of the Investment Company Act of 1940 - Exemption from rule 23c-3 - Order under section 17(d) and rule 17d-1 - Operational amendments: - Permit registered closed-end management investment companies to issue multiple classes of shares - Exchange Class: shares listed on a national securities exchange - Tokenized Class: shares traded on alternative trading systems (ATSs) or quoted on other mediums - Extend relief to future funds under the adviser's control - Notable requirements: - Compliance with FINRA rule 2341(d) and rule 18f-3 - Public disclosure of net asset value and trading prices on the fund's website - No procurement of products or services; this is a regulatory and operational request

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 offerings and related fees and charges.

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