# Owning the Future: USVC Explained with Ankur Nagpal

Page: https://stenobird.com/podcast/limitless-an-ai-podcast-7326914/owning-the-future-usvc-explained-with-ankur-nagpal
Text version: https://stenobird.com/podcast/limitless-an-ai-podcast-7326914/owning-the-future-usvc-explained-with-ankur-nagpal.md
Podcast: [Limitless: An AI Podcast](https://stenobird.com/podcast/limitless-an-ai-podcast-7326914)
Published: 2026-04-27T12:47:22+00:00
Episode link: https://share.transistor.fm/s/dfbdfd86
Audio file: https://media.transistor.fm/dfbdfd86/5e5906c3.mp3
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JSON: https://stenobird.com/v1/public/podcasts/limitless-an-ai-podcast-7326914/episodes/owning-the-future-usvc-explained-with-ankur-nagpal
Duration seconds: 1172

## Resource

This 20-min convo with the General Partner of USVC explains how you can invest in Anthropic, OpenAI, and other private deals. Until now, it's been extremely difficult to invest in SpaceX if you're not an accredited investor. USVC is trying to change that. $500 minimum. No accreditation. A real fund holding: - SpaceX (20% via xAI) - Anthropic - OpenAI - Crusoe, Vercel, Sierra, Legora We unpacked: - the backlash - how the fee structure actually works - why NAV matters (a lot) ------ 🌌 LIMITLESS HQ ⬇️ NEWSLETTER: https://limitlessft.substack.com/ FOLLOW ON X: https://x.com/LimitlessFT SPOTIFY: https://open.spotify.com/show/5oV29YUL8AzzwXkxEXlRMQ APPLE: https://podcasts.apple.com/us/podcast/limitless-podcast/id1813210890 RSS FEED: https://limitlessft.substack.com/ ------ TIMESTAMPS 0:00 Intro 0:47 The Purpose of USVC 3:02 NAV and Pricing 8:20 OpenAI Case Study 10:02 AngelList 12:07 Fee Structure Explained 14:03 Portfolio Overview 17:57 Roadmap ------ RESOURCES Josh: https://x.com/JoshKale Ejaaz: https://x.com/cryptopunk7213 ------ Not financial or tax advice. See our investment disclosures here: https://www.bankless.com/disclosures⁠

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## Transcript

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