SpaceX filed for what could be the largest IPO in history, but ARK believes it is not the only one. Investors should also focus on what comes next. We have been tracking this pipeline for years. The ARK Venture Fund holds positions in six companies with active IPO timelines. Each of these reached public market scale in private markets. The median age of a US company at IPO has reached 12 years, up from 5 in 1999. The window where the most value is created is increasingly happening before a company lists. ARK’s Global Head of Commercial Strategy Renato Leggi published a full guide on the potential IPO wave and how we are positioned. I would encourage anyone evaluating this opportunity to read it.(Cathie Wood)