ARK Venture Fund values Lambda Series D and E-2 preferred at $38.00 a share
- Place in VP50
- #47
- Sources
- 2
- Claims verified
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What happened
ARK Venture Fund filed its annual report for the year ended July 31, 2026 with the SEC as a Form N-CSR on October 7, 2026. The schedule of investments listed two Lambda Inc. positions. The first was 277,631 Series D shares, acquired January 21, 2025 at a cost of $5,124,996 and carried at $10,549,978. The second was 180,483 Series E-2 shares, acquired June 10, 2025 at a cost of $5,000,000 and carried at $6,858,354.
The fund's report does not print a per-share price. The MELD Valuation tracker, which compiles fund marks, listed the fund's Lambda values as $10.5 million and $6.9 million as of July 31, 2026, with an implied price of $38.00 per share, and did not disclose a valuation method. The report described Lambda as a specialized GPU cloud infrastructure provider serving AI training and inferencing workloads. These are the fund's reported fair values for a private company's preferred shares. Neither source described a sale or a new financing round, or stated a valuation for the company as a whole.
Key points
- The fund carried 277,631 Lambda Series D shares at $10,549,978, bought January 21, 2025 for $5,124,996.1
- It carried 180,483 Series E-2 shares at $6,858,354, bought June 10, 2025 for $5,000,000.1
- The MELD Valuation tracker listed an implied price of $38.00 per share as of July 31, 2026.2
- The N-CSR was filed on October 7, 2026.1
Why it matters
The mark puts Series D and Series E-2 shares at the same $38.00 per share, although the fund bought them on January 21, 2025 and June 10, 2025. Holders of either class can compare their shares with this mark.
Series D is carried at $10,549,978 against a cost of $5,124,996, and Series E-2 at $6,858,354 against $5,000,000. The two positions show different gains over what the fund paid.
Lambda does not trade publicly, so a fund's reported fair value is one of few visible price points for its preferred shares. The sources do not describe any sale at this price.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Feb 15, 2024 | $1.5B | $320M | US Innovative Technology Fund (USIT) |
| Series D | Feb 19, 2025 | $2.5B | $480M | Andra Capital and SGW |
Updated
Fact-check
- ARK Venture Fund held 277,631 Lambda Series D shares, bought January 21, 2025 for $5,124,996, carried at $10,549,978.Confirmed by [1] SEC EDGAR: the schedule of investments in the fund's July 31, 2026 annual report lists Lambda Inc., Series D, 1/21/25, 277,631 shares, cost $5,124,996, value $10,549,978.Verified
- It held 180,483 Lambda Series E-2 shares, bought June 10, 2025 for $5,000,000, carried at $6,858,354.Confirmed by [1] SEC EDGAR: the same schedule lists Lambda Inc., Series E-2, 6/10/25, 180,483 shares, cost $5,000,000, value $6,858,354.Verified
- Both positions are marked at $38.00 per share as of July 31, 2026.[2] MELD Valuation lists an implied price of $38.00 at July 31, 2026 but does not say which security it applies to; the event's own data applies it to Series D and Series E-2. [1] SEC EDGAR prints no per-share price.Partly verified
- The MELD tracker lists the fund's Lambda values as $10.5 million and $6.9 million at July 31, 2026.Confirmed by [2] MELD Valuation: it lists ARK Venture Fund at $10.5 million and shows a second bar of $6.9 million, both dated July 31, 2026, with no valuation technique or basis disclosed.Verified
- The report describes Lambda as a specialized GPU cloud infrastructure provider serving AI training and inferencing workloads.Confirmed by [1] SEC EDGAR: the private investments section gives this description of Lambda Inc. (Lambda Labs).Verified
- The N-CSR was filed on October 7, 2026 for the period ended July 31, 2026.Confirmed by [1] SEC EDGAR: the document is the fund's N-CSR with a reporting period of July 31, 2026, published 2026-10-07 per the source listing.Verified
Sources
- [1]SEC EDGAR (opens in a new tab)ARK Venture Fund N-CSR, period 2026-07-31
- [2]MELD Valuation (opens in a new tab)Lambda, Inc marks
