Dan Ives-Branded Closed-End Fund IVAI Raises $200 Million for Private AI Stakes

Ives Ultra AI Opportunities Inc. priced its initial public offering on September 30, 2026, at $10 per share across 20 million shares, raising $200 million to invest in private AI companies. Shares will list on the New York Stock Exchange under the ticker "IVAI." The fund must hold at least 80% of net assets in AI-focused businesses, prioritizing late-stage private U.S. companies, with up to 15% permitted in private funds. Cohen & Company Capital Markets Inc. served as sole bookrunner; underwriters hold an option for 3 million additional shares, potentially raising total gross proceeds to $230 million. Dan Ives, a Yorkville Ives & Co. senior managing director, chairs the adviser's board but is not portfolio manager. Edward Leathers is the sole investment committee member. The offering carries up to a 7% sales load and is expected to close October 1. A tender offer is required within 12 months of the IPO.