The AGIX fund gives retail investors a rare backdoor into one of AI's most valuable private companies before it goes public.
Retail investors typically don’t get a seat at the table when a $183 billion private company is raising money. KraneShares found a way to pull up a chair.
The firm’s Artificial Intelligence and Technology Public-Private ETF, trading under the ticker AGIX on NASDAQ, holds roughly $13 million worth of Anthropic shares. That position, acquired during a February 2025 private funding round, represents approximately 1.46% to 2.91% of the fund’s total assets of around $940 million.
A daily-liquid ETF with venture capital DNA #
AGIX, which launched on July 17, 2024, blends exposure to public AI heavyweights like NVIDIA and Microsoft with direct stakes in private companies. Alongside Anthropic, the portfolio includes positions in SpaceX/xAI and Nuro.
That makes it one of the first US-listed ETFs to offer genuine private equity exposure inside a structure that trades daily like any other stock. No lockup periods, no accredited investor requirements, no seven-figure minimums.
The expense ratio sits at 0.45%, which is competitive for a fund doing something this structurally unusual. For context, many traditional private equity funds charge management fees of 1.5% to 2% plus performance fees on top.
Since adding Anthropic and xAI to its holdings, AGIX has outperformed its public benchmark by more than 8-10%.
Why Anthropic, and why now #
Anthropic’s valuation has surged to $183 billion. The company is expected to hit $14 billion in annualized revenue by February 2026.
The company is widely anticipated to pursue an IPO in 2026. That timeline is what makes the AGIX position particularly interesting for investors. Buying into a private company at pre-IPO valuations, then holding through the public listing, is the exact playbook that has generated outsized returns for venture capital firms for decades.
What this means for investors eyeing AI exposure #
For investors specifically interested in Anthropic pre-IPO exposure, the options are limited. You can try to buy shares on secondary markets like Forge or EquityZen, where minimums are high and liquidity is thin. Or you can buy AGIX and accept that Anthropic is a relatively small slice of a diversified portfolio. A position representing under 3% of total assets isn’t going to double the fund’s value overnight. But it also means if Anthropic stumbles, the damage is contained.
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