The fund intends to provide retail and institutional investors with a bridge to late-stage AI infrastructure and applied technology firms. Under its current structure, IVAI has a 12-month window to identify and propose its initial private investments. Should the fund move forward, investors will have the option to tender their shares according to the company’s established policy.

Management of the portfolio rests with Ives Ultra Capital Management LLC. While Dan Ives serves as Chairman of the Board of Managers for the adviser, the firm clarified that he does not act as the fund's portfolio manager. That role is held by Ed Leathers, a CFA who also sits on the adviser's board. The offering, led by sole bookrunner Cohen & Company Capital Markets, includes an overallotment option for an additional 3,000,000 shares. The deal is expected to close on October 1, 2026, pending standard regulatory conditions.