July continues to alternate between slow and busy weeks. After a flurry of news last week, this one was more quiet. Take a look below.
Fundrise
Earlier this week, Fundrise announced the Innovation Fund had invested in ServiceTitan. ServiceTitan creates a software platform to help manage and automate the needs of contractor-based trade businesses like HVAC repair and landscaping. Fundrise invested just under $10M into this late-stage company at a $7.37B valuation. This is now the largest holding in the Innovation Fund, approximately doubling the $5M invested in Vanta.
Fundrise also delivered some additional enhancements to the Fundrise Pro subscription. The new features include, commentary from Fundrise on Wall Street Journal articles, more customization options for Custom Plans, and more market data.
Fundhomes
Fundhomes announced they received SEC qualification, adding another option for fractional investing into vacation rental properties. Fundhomes will launch their first SEC-qualified offering on August 7th. The Polaris is a $246K 6 bedroom, 3 bathroom offering in Davenport, Florida.
In a tweet, Fundhomes also shared that a similar property they’ve operated has returned 6.62% cash returns in its first 12 months.
Music Royalties
The music industry continues to grow. Based on analysis from Luminate, the music industry hit the milestone of 1 trillion streams faster than any time in history. In 2023 this feat took just 3 months, beating 2022 by 1 month. They also reported an increase in physical sales in Q1.
Vint
In an email, Vint shared that their latest Macallan collection received over $153K of investments in the first 24 hours. This suggests there is still strong demand for fractional opportunities in investment-grade whisky.
Republic
Republic just hit 7 years old. In a series of tweets, the company shared some of their milestones and fun facts from over the years. It’s a quick read, so we’d recommend taking a look directly.
AcreTrader
AcreTrader announced in an email that they added support for verifying accreditation through an advisor. This makes getting started on the platform a bit easier for investors that prefer to leave things like this to a wealth manager, attorney, etc…
