The Fundrise Innovation Fund has announced a new investment in Erebor Bank, a newly chartered national bank built to serve technology companies and their investors.
Erebor Bank was founded by Palmer Luckey, co-founder of Oculus VR and Anduril Industries, and is designed to address a gap in the market created by the 2023 collapse of Silicon Valley Bank. That event left many startups and venture capital firms without a specialized banking partner focused on the needs of the technology ecosystem.
The bank plans to provide a range of tailored financial products, including lines of credit backed by crypto assets or private securities, as well as loans for artificial intelligence chips and other specialized financing solutions that traditional banks have often been hesitant to offer. Erebor received conditional regulatory approval in October 2025 and secured its national bank charter in February 2026, with deposits insured by the FDIC.
Erebor has attracted backing from major venture capital firms including Founders Fund, Andreessen Horowitz, Lux Capital, and 8VC, positioning it as a significant new entrant in tech-focused financial services.
The investment aligns with the Fundrise Innovation Fund’s strategy of providing individual investors with access to private technology companies that have historically been limited to institutional venture capital firms. The fund aims to democratize exposure to high-growth technology opportunities through a publicly registered vehicle.
Fundrise, founded in 2012 and headquartered in Washington, D.C., operates one of the largest direct-to-consumer alternative investment platforms in the United States, offering access to real estate, private credit, and venture capital investments.
