Q2 2026 Update
Fund II · America 2030
America 2030: investing in the companies rebuilding American strategic capacity
A late-stage private-markets fund from IPO CLUB, backing Series B companies across Defense, Energy, AI Infrastructure, Robotics, Critical Minerals and Space, and holding them toward liquidity.
Enter the Data Room →Performance · as of June 30, 2026
NAV per unit
$1,316.65
Q2 2026
+12.61%
Since inception
+31.7%
Net TVPI
1.19x
Returns are net of fees. Figures as of June 30, 2026, unaudited and based on estimated fair values. Past performance does not indicate future results. See disclosures below.
The quarter in context
Q2 2026 was defined by the SpaceX IPO. On June 12, SpaceX priced at $135 per share at roughly a $1.75 trillion valuation, raised about $75 billion, and closed its first day above $2 trillion. That public reference point rippled across the sectors America 2030 invests in: AI infrastructure and defense names re-rated on sustained compute demand and elevated allied procurement, and late-stage secondary pricing across the fund's coverage universe moved with it.
America 2030 is positioned directly in this current. The fund enters at the Series B stage, in companies supplying the compute, energy, autonomy and hardware behind the same demand the public markets are now pricing.
What America 2030 invests in
America 2030 backs late-stage private companies at the Series B stage across six strategic sectors, the industrial base of American security and productivity.
Defense
Autonomy, munitions, and allied procurement suppliers.
Energy
Advanced nuclear and next-generation power for compute and industry.
AI Infrastructure
Compute, chips, and the systems training frontier models.
Robotics
Dual-use autonomy and logistics hardware.
Critical Minerals
Supply chains for the materials these sectors depend on.
Space
Launch, satellites, and orbital infrastructure.
Target entry point is Series B: past early-stage risk, with commercial traction, and years of private compounding ahead of any public listing.
How the fund works
America 2030, a series of IPO CLUB II, holds a concentrated portfolio of late-stage private positions and marks them to estimated fair value each quarter. Members access the full data room, the active pipeline at the target Series B stage, quarterly NAV reports, and the complete Q2 update, including position-level detail.
The pipeline is active. Coverage runs through the target Series B stage, and IPO CLUB reports on new opportunities to members as diligence completes.
Enter the Data Room →Members see the full pipeline, NAV reports, and position-level detail.
Who can invest
America 2030 is open to accredited investors and qualified purchasers. Subscriptions, minimums, and terms are set out in the fund's definitive documents, available to members in the data room.
Enter the Data Room →Frequently asked questions
What is America 2030?
America 2030 is a late-stage private-markets fund managed by IPO CLUB, structured as a series of IPO CLUB II. It invests in Series B stage private U.S. companies across Defense, Energy, AI Infrastructure, Robotics, Critical Minerals and Space, and holds them toward liquidity.
What does America 2030 invest in?
The fund invests in late-stage private companies at the Series B stage across six strategic sectors: Defense, Energy, AI Infrastructure, Robotics, Critical Minerals and Space.
At what stage does America 2030 invest?
America 2030's target entry point is the Series B stage: companies past early-stage risk, with commercial traction and years of private compounding ahead of a public listing.
How did America 2030 perform in Q2 2026?
As of June 30, 2026, NAV per unit was $1,316.65, up 12.61% for the quarter and 31.7% since inception, both net of fees, with a net TVPI of 1.19x. Figures are unaudited and based on estimated fair values. Past performance does not indicate future results.
Who can invest in America 2030?
America 2030 is available to accredited investors and qualified purchasers. Terms are set out in the fund's definitive documents.
How is America 2030 related to IPO CLUB?
America 2030 is IPO CLUB's second fund vehicle, a series of IPO CLUB II. IPO CLUB is a private-market investment manager that invests in late-stage U.S. private companies to grow the capital of its members.
Q3 subscriptions are open
Enter the data room to see the full pipeline, NAV reports, and position-level detail. America 2030 is open to accredited investors and qualified purchasers.
Enter the Data Room →America 2030 is a series of IPO CLUB II LLC. IPO CLUB is a private-market investment manager that invests in late-stage U.S. private companies to grow the capital of its members. Advisory services are provided by Higive Ltd, an Exempt Reporting Adviser that files reports with the U.S. Securities and Exchange Commission.
Performance figures are as of June 30, 2026, are unaudited, and are based on estimated fair values of private holdings. Fair value estimates for private companies are inherently subjective and may differ materially from the amounts ultimately realized. Quarterly and since-inception returns are net of fees. NAV per unit, returns, and net TVPI (total value to paid-in) include unrealized appreciation and depreciation. Past performance is not indicative of future results, and any investment may lose value.
This page is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any security. Any offer is made solely to accredited investors and qualified purchasers through the fund's definitive offering documents, which contain the complete terms, risks, fees, and minimum subscription.
