# EDGAR Filing Document

**Accession Number:** 0001867090
**File Stem:** 0001867090-25-000011
**Filing Date:** 2025-8
**Character Count:** 44010
**Document Hash:** 6b34c1a72678fdf6c200ba0dc5085ec9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001867090-25-000011.hdr.sgml**: 20250822

**ACCESSION NUMBER**: 0001867090-25-000011

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250822

**DATE AS OF CHANGE**: 20250822

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Fundrise Growth Tech Fund, LLC
- **CENTRAL INDEX KEY:** 0001867090

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23708
- **FILM NUMBER:** 251245760

**BUSINESS ADDRESS:**
- **STREET 1:** 11 DUPONT CIRCLE NW
- **STREET 2:** 9TH FLOOR
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036
- **BUSINESS PHONE:** 202-584-0550

**MAIL ADDRESS:**
- **STREET 1:** 11 DUPONT CIRCLE NW
- **STREET 2:** 9TH FLOOR
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Fundrise Growth Tech Interval Fund, LLC
- **DATE OF NAME CHANGE:** 20210611

## Nport-Ex

Fundrise

Growth

Tech

Fund,

LLC

PORTFOLIO

COMPOSITION

(UNAUDITED)

June

30,

2025

PORTFOLIO

COMPOSITION

The

following

chart

provides

a

visual

breakdown

of

the

Fund,

by

the

industry

sectors

that

the

underlying

securities

represent,

as

a

percentage

of

total

investments.

Fundrise

Growth

Tech

Fund,

LLC

Schedule

of

Investments

(UNAUDITED)

June

30,

2025

See

accompanying

notes

to

schedule

of

investments.

(Amounts

in

thousands)

Description

Par/Shares

Security

Type

Value

as

of

June

30,

2025

%

of

Net

Assets

Technology

Private

Equity

Artificial

Intelligence

Quiet

OA

Access

LP

(Open

AI)

(1)(2)(3)

N/A

Portfolio

Company

$

35,807

14.2%

8VC

ANSE

SPV,

LP

(1)(2)(3)

N/A

Portfolio

Company

12,794

5.1%

Anthropic,

PBC

(1)(2)(3)(4)

Portfolio

Company

12,204

4.8%

HOF

Capital

AP

Growth,

LLC

(Open

AI)

(1)(2)(3)

N/A

Portfolio

Company

10,248

4.1%

Visual

Layer,

Inc.

(1)(2)(3)(5)

N/A

Portfolio

Company

5,000

2.0%

Theory

Ventures,

LP

(2)(3)(6)(7)

N/A

Portfolio

Fund

4,038

1.6%

AI-LLM,

LLC

(1)(2)(3)(8)

N/A

Portfolio

Company

3,141

1.2%

Anyscale,

Inc.

(1)(2)(3)

511

Portfolio

Company

2,494

1.0%

ACA

Projects,

Inc.

dba

Risotto

(1)(2)(3)(5)

N/A

Portfolio

Company

0.1%

Luminos,

Inc.

(1)(2)(3)

N/A

Portfolio

Company

0.1%

AgentHub,

Inc.

dba

Gumloop

(1)(2)(3)(9)

Portfolio

Company

0.0%

Total

Artificial

Intelligence

(Cost

$59,465)

$

86,246

34.2%

Data

Infrastructure

Databricks,

Inc.

(2)(3)(4)(6)

Portfolio

Company

$

35,285

14.0%

dbt

Labs,

Inc.

(1)(2)(3)

Portfolio

Company

15,000

5.9%

Databricks,

Inc.

(1)(2)(3)

Portfolio

Company

11,322

4.5%

Vanta,

Inc.

(1)(2)(3)

555

Portfolio

Company

6,453

2.5%

Immuta,

Inc.

(1)(2)(3)

Portfolio

Company

1,022

0.4%

DittoLive,

Inc.

(1)(2)(3)

Portfolio

Company

1,000

0.4%

Omni

Analytics,

Inc.

(1)(2)(3)

Portfolio

Company

588

0.2%

Carry

Technologies,

Inc.

dba

Hightouch

-

Common

(1)(2)(3)

Portfolio

Company

583

0.2%

Carry

Technologies,

Inc.

dba

Hightouch

-

Preferred

(1)(2)(3)(9)

Portfolio

Company

0.0%

Total

Data

Infrastructure

(Cost

$56,782)

$

71,353

28.1%

Financial

Technology

Ramp

Business

Corp.

-

Preferred

(1)(2)(3)

Portfolio

Company

$

6,333

2.5%

Ramp

Business

Corp.

-

Common

(1)(2)(3)

Portfolio

Company

1,254

0.5%

Stripe,

Inc.

(1)(2)(3)

Portfolio

Company

0.1%

Total

Financial

Technology

(Cost

$6,053)

$

7,935

3.1%

Vertical/Horizontal

Software

Canva,

Inc.

(1)(2)(3)

Portfolio

Company

$

7,464

3.0%

Total

Vertical/Horizontal

Software

(Cost

$6,220)

$

7,464

3.0%

Property

Technology

Inspectify,

Inc.

(1)(2)(3)(10)

1,295

Portfolio

Company

$

5,000

2.0%

Rhino

Labs,

Inc.,

Series

P

(1)(2)(3)

Portfolio

Company

1,023

0.4%

Rhino

Labs,

Inc.,

Series

D

(1)(2)(3)

Portfolio

Company

0.2%

Total

Property

Technology

(Cost

$6,391)

$

6,414

2.6%

Total

Technology

Private

Equity

(Cost

$134,911)

$

179,412

71.0%

Technology

Public

Equity

Vertical/Horizontal

Software

ServiceTitan,

Inc.

(2) 119

Common

Stock

$

12,775

5.1%

Total

Technology

Public

Equity

(Cost

$7,748)

$

12,775

5.1%

Technology

Fixed

Income

SWCH

Commercial

Mortgage

Trust

2025-DATA

(E

Class),

3.34%

+

SOFR,

02/15/27

(11)(13)

$

12,500

Commercial

Mortgage-Backed

Security

$

12,417

.

%

VDCM

Commercial

Mortgage

Trust

2025-AZ

(D

Class),

6.43%,

07/13/30

(11)(12)

9,000

Commercial

Mortgage-Backed

Security

9,081

3.6%

BX

Trust

2025-VLT6

(E

Class),

3.19%

+

SOFR,

03/15/27

(11)(13)

5,000

Commercial

Mortgage-Backed

Security

5,000

2.0%

Total

Technology

Fixed

Income

(Cost

$26,456)

$

26,498

10.5%

Fundrise

Growth

Tech

Fund,

LLC

Schedule

of

Investments

(UNAUDITED)(Continued)

June

30,

2025

See

accompanying

notes

to

schedule

of

investments.

Description

Par/Shares

Security

Type

Value

as

of

June

30,

2025

%

of

Net

Assets

Short-Term

Investment

JP

Morgan

U.S.

Treasury

Plus

Money

Market

Fund,

Capital

Shares,

4.29%

(14) 53,497

Money

Market

Fund

$

53,497

.

%

Total

Short-Term

Investment

(Cost

$53,497)

$

,

.

%

Total

investments,

at

value

(Cost

$222,612)

$

,

107. 8

%

Liabilities

in

excess

of

other

assets

(19

,

589)

(7.

8)%

Total

Net

Assets

$

252,593

100.0%

LLC

Limited

Liability

Company

LP

Limited

Partnership

(1) Investments

classified

as

Level

within

the

three-tier

fair

value

hierarchy.

See

Note

2,

Summary

of

Significant

Accounting

Policies

-

Fair

Value

Measurement

for

an

explanation

of

this

hierarchy,

as

well

as

a

list

of

significant

unobservable

inputs

used

in

the

valuation

of

these

instruments.

(2) Non-income

producing

investment.

(3) Restricted

security.

The

aggregate

value

of

restricted

securities

at

June

30,

2025

is

approximately

$179,412

(amount

in

thousands)

and

represents

approximately

71.0 %

of

net

assets.

See

Note

2,

Summary

of

Significant

Accounting

Policies

for

additional

information.

(4) Shares

held

through

a

special

purpose

vehicle

of

which

the

named

investment

is

the

sole

investment.

Shares

listed

indicate

shares

of

underlying

investment.

(5) If

there

is

an

equity

financing,

this

Simple

Agreement

for

Future

Equity

("SAFE")

will

convert

into

preferred

shares

equal

to

the

Fund's

cost

of

investment

divided

by

conversion

price,

which

is

a

function

of

the

discount

price.

(6) Investment

valued

using

net

asset

value

per

share

(or

its

equivalent)

as

a

practical

expedient.

See

Note

2,

Summary

of

Significant

Accounting

Policies

-

Fair

Value

Measurement

for

additional

information.

(7) Limited

partnership

with

a

10-year

term.

Redemptions

are

not

permitted.

There

are

unfunded

commitments

of

$

704

(amount

in

thousands)

as

of

June

30,

2025. (8) AI-LLM,

LLC

holds

an

investment

in

a

leading

private

North

American-based

artificial

intelligence

and

large

language

model

provider

(leading

defined

as

top

in

capital

raised

as

of

the

reporting

date

among

North

American-based

companies

primarily

focused

on

building

and

serving

foundation

models).

(9) Value

is

less

than

0.05%

of

Total

Net

Assets.

(10) Investment

in

an

affiliate.

See

Note

2,

Summary

of

Significant

Accounting

Policies

for

additional

information.

(11) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933. These

securities

may

be

resold

to

qualified

institutional

buyers

in

transactions

exempt

from

registration.

The

aggregate

value

of

these

securities

at

June

30,

2025

is

approximately

$26,498

(amount

in

thousands)

and

represents

approximately

10.5%

of

net

assets.

(12) This

investment

has

a

variable

interest

rate

which

adjusts

periodically

based

on

changes

in

current

interest

rates.

Coupon

rate

shown

at

June

30,

2025. (13) This

investment

has

a

floating

interest

rate.

Coupon

rate,

reference

index

and

spread

shown

at

June

30,

2025. (14) Rate

disclosed

is

representative

of

the

seven-day

effective

yield

as

of

June

30,

2025. Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)

June

30,

2025

1. Formation

and

Organization

Fundrise

Growth

Tech

Fund,

LLC

(the

"Fund"

or

the

"Registrant")

is

a

Delaware

limited

liability

company.

The

Fund

intends

to

elect

and

intends

to

qualify

to

be

taxed

as

a

regulated

investment

company

("RIC")

under

the

Internal

Revenue

Code

of

1986,

as

amended

(the

"Code"),

for

its

taxable

year

ending

March

31,

2026. During

prior

taxable

years,

the

Fund

was

taxed

as

a

C

corporation.

The

Fund

is

organized

as

a

continuously

offered,

non-diversified,

closed-end

management

investment

company

registered

under

the

Investment

Company

Act

of

1940,

as

amended

(the

"1940

Act").

The

Fund's

registration

statement

was

declared

effective

on

May

11,

2022. The

Fund

commenced

investment

operations

on

July

25,

2022. The

Fund's

investment

objective

is

to

provide

total

return

primarily

through

long-term

capital

appreciation.

The

Fund

seeks

to

achieve

its

investment

objective

by

investing

in

private

and

public

technology

companies,

directly

or

indirectly,

with

a

primary

focus

on

the

equity

securities

(e.g.,

common

stock,

preferred

stock,

and

convertible

debt)

of

certain

privately

held,

mid-to-late-

stage,

growth

companies

("Portfolio

Companies"),

or

other

investments

(including

derivatives,

exchange-traded

funds

and

other

pooled

investment

vehicles)

that

have

economic

characteristics

similar

to

investments

in

technology

companies.

Under

normal

circumstances,

the

Fund's

investment

strategy

is

to

invest

at

least

80%

of

its

net

assets

(plus

the

amount

of

any

borrowings

for

investment

purposes)

in

the

securities

of

technology

and

technology-related

companies

(referred

to

herein

as

"technology

companies")

and

other

investments

(including

derivatives)

that

have

economic

characteristics

similar

to

investments

in

technology

companies.

The

investment

adviser

to

the

Fund

is

Fundrise

Advisors,

LLC

(the

"Adviser"),

an

investment

adviser

registered

with

the

U.S.

Securities

and

Exchange

Commission

("SEC")

under

the

Investment

Advisers

Act

of

1940,

as

amended.

The

Adviser

is

a

wholly-

owned

subsidiary

of

Rise

Companies

Corp.

("Rise

Companies"

or

the

"Sponsor"),

the

Fund's

sponsor.

Subject

to

the

supervision

of

the

Board

of

Directors

of

the

Fund

(the

"Board"),

the

Adviser

is

responsible

for

directing

the

management

of

the

Fund's

business

and

affairs,

managing

the

Fund's

day-to-day

affairs,

and

implementing

the

Fund's

investment

strategy.

2. Summary

of

Significant

Accounting

Policies

Valuation

Oversight

Pursuant

to

SEC

Rule

2a-5

under

the

1940

Act,

the

Board

has

approved

the

Adviser

as

the

Fund's

Valuation

Designee

("Valuation

Designee"),

to

provide

administration

and

oversight

of

the

Fund's

valuation

policies

and

procedures.

The

Fund

values

its

investments

in

accordance

with

such

procedures.

Generally,

portfolio

securities

and

other

assets

for

which

market

quotations

are

readily

available

are

valued

at

market

value,

which

is

ordinarily

determined

on

the

basis

of

official

closing

prices

or

the

last

reported

sales

prices.

If

market

quotations

are

not

readily

available

or

are

deemed

unreliable,

the

Fund

will

use

the

fair

value

of

the

securities

or

other

assets

as

determined

by

the

Adviser

in

good

faith,

taking

into

consideration

all

available

information

and

other

factors

that

the

Adviser

deems

pertinent,

in

each

case

subject

to

the

overall

supervision

and

responsibility

of

the

Board.

In

calculating

the

Fund's

net

asset

value

("NAV"),

the

Adviser,

subject

to

the

oversight

of

the

Board,

uses

various

valuation

methodologies.

To

the

extent

practicable,

the

Adviser

generally

endeavors

to

maximize

the

use

of

observable

inputs

and

minimize

the

use

of

unobservable

inputs

by

requiring

that

the

most

observable

inputs

are

to

be

used

when

available.

The

availability

of

valuation

techniques

and

observable

inputs

can

vary

from

investment

to

investment

and

are

affected

by

a

wide

variety

of

factors.

When

valuation

is

based

on

models

or

inputs

that

are

less

observable

or

unobservable

in

the

market,

the

determination

of

fair

value

requires

more

judgment,

and

may

involve

alternative

methods

to

obtain

fair

values

where

market

prices

or

market-based

valuations

are

not

readily

available.

As

a

result,

the

Adviser

may

exercise

a

higher

degree

of

judgment

in

determining

fair

value

for

certain

securities

or

other

assets.

Fair

Value

Measurement

The

following

is

a

current

summary

of

certain

methods

generally

used

to

value

investments

of

the

Fund

under

the

Fund's

valuation

procedures:

The

Fund

applies

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standards

Codification

("ASC")

Topic

820,

Fair

Value

Measurement,

as

amended,

which

establishes

a

framework

for

measuring

fair

value

in

accordance

with

accounting

principles

generally

accepted

in

the

United

Sates

("U.S.

GAAP")

and

required

disclosures

of

fair

value

measurement.

U.S.

GAAP

defines

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)(continued)

June

30,

2025

the

fair

value

as

the

price

that

the

Fund

would

receive

to

sell

an

asset

or

pay

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date.

The

Fund

determines

the

fair

value

of

certain

investments

in

accordance

with

the

fair

value

hierarchy

that

requires

an

entity

to

maximize

the

use

of

observable

inputs.

The

fair

value

hierarchy

includes

the

following

three

levels

based

on

the

objectivity

of

the

inputs,

which

were

used

for

categorizing

the

assets

or

liabilities

for

which

fair

value

is

being

measured

and

reported:

Level

–

Quoted

market

prices

in

active

markets

for

identical

assets

or

liabilities.

Level

–

Significant

other

observable

inputs

(e.g.,

quoted

prices

for

similar

items

in

active

markets,

quoted

prices

for

identical

or

similar

items

in

markets

that

are

not

active,

inputs

other

than

quoted

prices

that

are

observable

such

as

interest

rate

and

yield

curves,

and

market-corroborated

inputs).

Level

–

Valuation

generated

from

model-based

techniques

that

use

inputs

that

are

significant

and

unobservable

in

the

market.

These

unobservable

assumptions

reflect

estimates

of

inputs

that

market

participants

would

use

in

pricing

the

asset

or

liability.

Valuation

techniques

may

include

use

of

discounted

cash

flow

methodologies

or

similar

techniques,

which

incorporate

management's

own

estimates

of

assumptions

that

market

participants

would

use

in

pricing

the

instrument

or

other

valuation

assumptions

that

require

significant

management

judgment

or

estimation.

Fixed

income

securities

are

valued

by

an

independent

pricing

service

overseen

by

the

Valuation

Designee.

The

pricing

service

employs

a

pricing

model

that

takes

into

account,

among

other

things,

bids,

yield

spreads

and/or

other

market

data

and

specific

security

characteristics.

In

the

event

prices

or

quotations

are

not

readily

available

or

that

the

application

of

these

valuation

methods

results

in

a

price

for

an

investment

that

is

deemed

to

be

not

representative

of

the

fair

value

of

such

investment,

fair

value

will

be

determined

in

good

faith

by

the

Valuation

Designee,

in

accordance

with

the

valuation

policy

and

procedures

approved

by

the

Board.

These

securities

are

generally

classified

in

Level

of

the

fair

value

hierarchy.

Investments

in

registered

investment

companies,

including

money

market

funds,

are

valued

at

the

NAV

as

of

the

close

of

each

business

day.

These

securities

are

generally

classified

in

Level

of

the

fair

value

hierarchy.

The

majority

of

the

Fund's

investments

have

no

readily

available

market

quotations

and,

as

such,

are

valued

at

fair

value

in

good

faith.

There

is

no

single

standard

for

determining

the

fair

value

of

a

security.

Rather,

fair

value

calculations

will

involve

significant

professional

judgment

in

the

application

of

both

observable

and

unobservable

attributes.

For

mid-to-late

stage

growth

Portfolio

Companies,

traditional

valuation

methods

(e.g.,

discounted

cash

flow)

are

often

a

less

reliable

tool

for

valuing

investments

in

accordance

with

ASC

820. As

such,

until

the

Portfolio

Companies

grow

to

a

point

where

traditional

valuation

methods

apply,

the

Fund

may

deem

it

more

appropriate

to

utilize

other

valuation

methodologies.

Late-stage

private

companies

or

"pre-IPO

companies"

traditionally

raise

capital

from

investors

in

organized

funding

rounds.

During

such

funding

rounds,

a

pre-IPO

company

will

seek

a

lead

investor

who

will,

to

their

best

effort,

define

a

valuation

of

the

company.

Therefore,

the

valuation

of

the

Fund's

Portfolio

Companies

may

be

adjusted

when

a

new

valuation

is

set

by

the

lead

investor

in

the

next

funding

round.

As

such,

the

Fund

may

use

the

market

approach

to

estimate

the

fair

value

of

its

Portfolio

Companies

by

adjusting

the

valuation

of

its

Portfolio

Companies

with

each

new

funding

round.

However,

while

the

valuation

as

of

the

latest

funding

round

is

a

prominent

factor

in

the

Fund's

valuation

process,

it

is

not

the

only

factor

that

the

Fund

considers

when

valuing

its

portfolio

investments.

The

Fund

may

establish

certain

thresholds

or

triggers

that

intend

to

capture

fundamental

changes

in

the

value

of

the

Portfolio

Company

that

would

affect

the

anticipated

return

on

the

Fund's

investment.

Examples

of

certain

thresholds

or

triggers

may

include,

an

unexpected

business

or

technology

breakthrough,

faster

than

anticipated

revenue

growth,

a

fundamental

failure

of

the

technology,

the

loss

of

a

key

customer,

or

the

success

of

a

competitor

in

the

same

industry.

Additionally,

the

Adviser

may

consider

several

additional

factors

(if

present),

including

but

not

limited

to

the

implied

valuation

of

the

asset

as

reflected

by

stock

purchase

contracts

reported

in

private

markets,

fundamental

analytical

data

relating

to

the

investment

in

the

security,

the

nature

and

duration

of

any

restriction

on

the

disposition

of

the

security,

the

cost

of

the

security

at

the

date

of

purchase,

or

the

liquidity

of

the

market

for

the

security.

The

Adviser

may

also

consider

periodic

financial

statements

(audited

and

unaudited)

or

other

information

provided

by

the

Portfolio

Companies

to

investors

or

prospective

investors,

to

the

extent

that

it

is

available.

The

Fund

invests

in

Portfolio

Companies

by

purchasing

securities

directly

from

such

Portfolio

Companies,

through

simple

agreements

for

future

equity

("SAFEs"),

or

through

special

purpose

vehicles

("SPV").

SAFEs

represent

a

contractual

right

to

future

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)(continued)

June

30,

2025

equity

of

a

company,

in

exchange

for

which

the

holder

of

the

SAFE

contributes

capital

to

the

company.

SAFEs

enable

investors

to

convert

their

investment

to

equity

upon

the

occurrence

of

triggering

events

set

forth

in

the

applicable

SAFE.

For

investments

in

companies

that

are

not

considered

"pre-IPO

companies",

valuation

methods

utilized

may

include,

but

are

not

limited

to

the

following:

sales

comparison

approach;

discounted

cash

flow

method;

hypothetical

sales

method;

and

appraisals

received

from

one

or

more

pricing

services.

In

addition,

the

Fund

may

utilize:

an

analysis

of

financial

ratios

and

valuation

metrics

of

the

Portfolio

Companies

that

issued

private

equity

securities

to

peer

companies

that

are

public;

an

analysis

of

the

Portfolio

Companies'

most

recent

financial

statements

and

forecasts;

an

analysis

of

the

markets

in

which

the

Portfolio

Company

does

business;

and

other

relevant

factors.

Portfolio

Funds

and

certain

Portfolio

Companies

are

generally

valued

based

on

the

latest

NAV

reported

by

the

Portfolio

Fund

or

Portfolio

Company's

portfolio

manager

("Portfolio

Manager")

as

a

practical

expedient,

where

such

valuation

methodologies

employed

by

the

Portfolio

Funds

and

certain

Portfolio

Companies

reflects

fair

value

pricing

and

the

effects

of

using

fair

value

pricing.

New

purchases

of

Portfolio

Funds

and

certain

Portfolio

Companies

may

be

valued

at

original

transaction

price

initially

until

a

NAV

is

provided

by

the

Portfolio

Manager.

If

the

Valuation

Committee

concludes

in

good

faith

that

the

latest

NAV

reported

by

a

Portfolio

Manager

does

not

represent

fair

value

(e.g.,

there

is

more

current

information

regarding

a

portfolio

asset

which

significantly

changes

its

fair

value),

the

Valuation

Committee

will

make

a

corresponding

adjustment

to

reflect

the

current

fair

value

of

such

asset

within

such

Portfolio

Fund

or

Company.

Due

to

the

inherent

uncertainty

of

determining

the

fair

value

of

investments

that

do

not

have

a

readily

available

market

value,

the

fair

value

of

the

Fund's

investments

may

differ

significantly

from

the

values

that

would

have

been

used

had

a

readily

available

market

value

existed

for

such

investments,

and

the

differences

could

be

material.

The

following

is

a

summary

of

the

Fund's

assets

measured

at

fair

value

on

a

recurring

basis

as

of

June

30,

2025

,

and

indicates

the

fair

value

hierarchy

of

the

inputs

utilized

by

the

Fund

to

determine

such

fair

value

(amounts

in

thousands)

:

Level

Level

Level

Practical

Expedient

(1) Total

Portfolio

Companies

$

–

$

–

$

140,089

$

35,285

$

175,374

Common

Stock

12,775

–

–

–

12,775

Portfolio

Fund

–

–

–

4,038

4,038

Commercial

Mortgage-Backed

Securities

–

26,498

–

–

26,498

Short-Term

Investments

53,497

–

–

–

53,497

Total

Investments

$

,

$

,

$

,

$

,

$

,

(1) As

a

practical

expedient,

certain

investments

that

are

measured

at

fair

value

using

the

NAV

per

share

(or

its

equivalent)

have

not

been

categorized

in

the

fair

value

hierarchy.

The

fair

value

amounts

presented

in

this

table

are

intended

to

permit

reconciliation

of

the

fair

value

hierarchy

to

the

amounts

presented

in

the

Schedule

of

Investments.

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)(continued)

June

30,

2025

The

following

is

a

summary

of

quantitative

information

about

the

significant

unobservable

inputs

of

the

Fund's

Level

investments

as

of

June

30,

2025

(amounts

in

thousands)

.

The

tables

are

not

intended

to

be

all-inclusive

but

instead

capture

the

significant

unobservable

inputs

relevant

to

the

Fund's

determination

of

fair

value.

The

following

is

a

reconciliation

of

investments

in

which

significant

unobservable

inputs

(Level

3)

were

used

in

determining

fair

value

(amounts

in

thousands)

:

Restricted

Investments

The

Fund

may

purchase

securities

for

which

there

is

a

limited

trading

market

or

which

are

subject

to

restrictions

on

resale

to

the

public.

Restricted

securities

and

securities

for

which

there

is

a

limited

trading

market

may

be

significantly

more

difficult

to

value

due

to

the

unavailability

of

reliable

market

quotations

for

such

securities,

and

investment

in

such

securities

may

have

an

adverse

impact

on

NAV.

In

addition,

the

Fund's

investments

in

Portfolio

Companies

will

often

be

subject

to

lock-up

provisions

that

prohibit

the

Fund

from

selling

its

equity

investments

into

the

public

market

for

specified

periods

of

time

after

IPOs

of

the

Portfolio

Company,

typically

days.

The

Fund

may

purchase

Rule

144A

securities

for

which

there

may

be

a

secondary

market

of

qualified

institutional

buyers

as

contemplated

by

Rule

144A

under

the

Securities

Act.

Rule

144A

provides

an

exemption

from

the

registration

requirements

of

the

Securities

Act

for

the

resale

of

certain

restricted

securities

to

qualified

institutional

buyers.

The

following

are

the

restricted

investments

held

by

the

Fund

as

of

June

30,

2025

(amounts

in

thousands)

:

Investment

Fair

Value

Valuation

Technique

(1) Unobservable

Input

Range

Impact

to

Valuation

from

an

Increase

in

Input

(2) Portfolio

Companies

$

114,584

Market

Transaction

Transaction

Price

N/A

Increase

Portfolio

Companies

25,505

Recent

Transaction

Transaction

Price

N/A

Increase

Total

Investments

$

140,089

(1) Recent

transaction

represents

investments

held

at

the

original

transaction

price,

either

from

the

Portfolio

Company's

funding

round

or

a

secondary

seller,

and

other

relevant

market

data.

Market

transaction

represents

investments

valued

using

private

transaction

prices

or

non-public

third-party

pricing

information

which

is

unobservable.

(2) Represents

the

expected

directional

change

in

the

fair

value

of

the

Level

investments

that

would

result

from

an

increase

in

the

corresponding

input.

A

decrease

to

the

unobservable

input

would

have

the

opposite

effect.

Significant

changes

in

these

inputs

could

result

in

significantly

higher

or

lower

fair

value

measurements.

Balance

as

of

March

31,

2025

Purchases

Realized

Gain

(Loss)

Net

Change

in

Unrealized

Appreciation/

Depreciation

Sales

Transfers

to

(from)

Level

Balance

as

of

June

30,

2025

Net

Change

in

Unrealized

Appreciation/

Depreciation

for

the

Period

Ended

June

30,

2025

related

to

Level

Investments

Held

at

June

30,

2025

Portfolio

Companies

$

119,573

$

$

–

$

20,151

$

–

$

–

$

140,089

$

20,151

Description

Initial

Acquisition

Date

Shares

Cost

Value

as

of

June

30,

2025

%

of

Net

Assets

Quiet

OA

Access

LP

(Open

AI)

09/27/24

N/A

$

25,765

$

35,807

14.2%

Databricks,

Inc.

07/14/23

25,019

35,285

14.0%

dbt

Labs,

Inc.

09/22/23

15,000

15,000

5.9%

8VC

ANSE

SPV,

LP

10/27/23

N/A

6,021

12,794

5.1%

Anthropic,

PBC

12/06/23

8,534

12,204

4.8%

Databricks,

Inc.

11/20/23

8,874

11,322

4.5%

HOF

Capital

AP

Growth,

LLC

(Open

AI)

12/29/23

N/A

5,250

10,248

4.1%

Canva,

Inc.

09/15/23

6,220

7,464

3.0%

Vanta,

Inc.

09/07/22

555

5,000

6,453

2.5%

Ramp

Business

Corp.

-

Preferred

01/31/25

5,005

6,333

2.5%

Visual

Layer,

Inc.

06/04/24

N/A

5,000

5,000

2.0%

Inspectify,

Inc.

06/30/23

1,295

4,000

5,000

2.0%

Fundrise

Growth

Tech

Fund,

LLC

Notes

to

Schedule

of

Investments

(UNAUDITED)(continued)

June

30,

2025

Affiliated

Investments

The

Fund

invests

in

one

or

more

affiliated

entities.

The

affiliated

investment

vehicles

have

not

been

registered

under

the

Securities

Act

of

1933,

as

amended,

and

thus

are

subject

to

restrictions

on

resale.

During

the

period

ended

June

30,

2025,

investments

in

affiliates

were

as

follows

(amounts

in

thousands)

:

Description

Initial

Acquisition

Date

Shares

Cost

Value

as

of

June

30,

2025

%

of

Net

Assets

Theory

Ventures,

LP

04/28/23

N/A

$

4,296

$

4,038

1.6%

AI-LLM,

LLC

08/31/23

N/A

1,597

3,141

1.2%

Anyscale,

Inc.

10/18/23

511

2,494

2,494

1.0%

Ramp

Business

Corp.

-

Common

05/20/24

693

1,254

0.5%

Rhino

Labs,

Inc.,

Series

P

02/05/25

2,000

1,023

0.4%

Immuta,

Inc.

03/28/23

1,022

1,022

0.4%

DittoLive,

Inc.

01/17/25

1,000

1,000

0.4%

Omni

Analytics,

Inc.

08/27/24

500

588

0.2%

Carry

Technologies,

Inc.

dba

Hightouch

-

Common

06/06/24

583

0.2%

Rhino

Labs,

Inc.,

Series

D

02/03/25

0.2%

Stripe,

Inc.

06/28/24

0.1%

ACA

Projects,

Inc.

dba

Risotto

02/20/25

N/A

0.1%

Luminos,

Inc.

11/09/23

N/A

0.1%

Carry

Technologies,

Inc.

dba

Hightouch

-

Preferred

(1) 05/09/25

0.0%

AgentHub,

Inc.

dba

Gumloop

(1) 08/16/24

0.0%

Total

$

,

911

$

,

.

%

(1) Value

is

less

than

0.05%

of

Total

Net

Assets.

Non-Controlled

Affiliated

Investment

Balance

as

of

March

31,

2025

Purchases

at

Cost

Proceeds

from

Sales

Net

Realized

Gain

(Loss)

and

Capital

Gain

Distributions

Change

in

Unrealized

Appreciation/

Depreciation

Balance

as

of

June

30,

2025

Total

Dividend

Income

Technology

Private

Equity

Inspectify,

Inc.

$

5,000

$

–

$

–

$

–

$

–

$

5,000

$

–

Total

$

5,000

$

–

$

–

$

–

$

–

$

5,000

$

–

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** FUNDRISE GROWTH TECH FUND, LLC

- **b. Investment Company Act file number:** 811-23708

- **c. CIK number of Registrant:** 0001867090

- **d. LEI of Registrant:** 549300GHPV9TAPWSMX39

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 11 DUPONT CIRCLE NW

  - **City:** WASHINGTON

  - **State:** DC

  - **Foreign country:** US

  - **Zip / Postal Code:** 20036

  - **Telephone number:** 202-584-0550

**Item A.2. Information about the Series.**

- **a. Name of Series:** FUNDRISE GROWTH TECH FUND, LLC

- **c. LEI of Series:** 549300GHPV9TAPWSMX39

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $276948643.76

**Total Liabilities:** $24355226.78

**Net Assets:** $252593416.98

**Cash Not Reported:** $1700462.35

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 7.30%                | 1.33%                | -0.39%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $18418668.41                               |
| Month 2  | $0.00                    | $4778363.51                                |
| Month 3  | $5352375.00              | $-5656888.98                               |

### Schedule of Portfolio Investments

| Name                                                           | Title                                                          | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| BX Trust 2025-VLT6 (E Class)                                   | BX Trust 2025-VLT6 (E Class)                                   | CUSIP: 12433KAJ6<br>LEI: N/A | Long             | ABS-MBS          |  | US        |   5000000 | PA      | $5000184.00   | 1.98%             | 2027-03-15      | Floating      | 7.50%                 | No            | 2                  | On Loan: No      |
| JP Morgan U.S. Treasury Plus Money Market Fund, Capital Shares | JP Morgan U.S. Treasury Plus Money Market Fund, Capital Shares | CUSIP: 4812C2239<br>LEI: N/A | Long             | STIV             | RF                | US        |  53497053 | NS      | $53497053.02  | 21.18%            |  |  |  | No            | 1                  | On Loan: No      |
| SWCH Commercial Mortgage Trust 2025-DATA (E Class)             | SWCH Commercial Mortgage Trust 2025-DATA (E Class)             | CUSIP: 78489CAE9<br>LEI: N/A | Long             | ABS-MBS          |  | US        |  12500000 | PA      | $12417137.50  | 4.92%             | 2027-02-15      | Floating      | 7.65%                 | No            | 2                  | On Loan: No      |
| ServiceTitan, Inc.                                             | ServiceTitan, Inc.                                             | CUSIP: 81764X103<br>LEI: N/A | Long             | EC               | CORP              | US        |    119196 | NS      | $12775427.28  | 5.06%             |  |  |  | No            | 1                  | On Loan: No      |
| 8VC ANSE SPV, LP                                               | 8VC ANSE SPV, LP                                               | CUSIP: N/A<br>LEI: N/A       | Long             |  |  | US        |         1 | OU      | $12793560.00  | 5.06%             |  |  |  | Yes           | 3                  | On Loan: No      |
| VDCM Commercial Mortgage Trust 2025-AZ (D Class)               | VDCM Commercial Mortgage Trust 2025-AZ (D Class)               | CUSIP: 91825CAG0<br>LEI: N/A | Long             | ABS-MBS          |  | US        |   9000000 | PA      | $9080507.81   | 3.59%             | 2030-07-13      | Variable      | 6.43%                 | No            | 2                  | On Loan: No      |
| ACA Projects, Inc. dba Risotto                                 | ACA Projects, Inc. dba Risotto                                 | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |         1 | OU      | $300000.00    | 0.12%             |  |  |  | Yes           | 3                  | On Loan: No      |
| AgentHub, Inc. dba Gumloop                                     | AgentHub, Inc. dba Gumloop                                     | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |      4532 | NS      | $21714.17     | 0.01%             |  |  |  | Yes           | 3                  | On Loan: No      |
| AI-LLM, LLC                                                    | AI-LLM, LLC                                                    | CUSIP: N/A<br>LEI: N/A       | Long             |  |  | US        |         1 | OU      | $3140990.00   | 1.24%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Anyscale, Inc.                                                 | Anyscale, Inc.                                                 | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |    510880 | NS      | $2493722.96   | 0.99%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Canva, Inc.                                                    | Canva, Inc.                                                    | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |      5831 | NS      | $7463680.00   | 2.95%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Carry Technologies, Inc. dba Hightouch                         | Carry Technologies, Inc. dba Hightouch - Common                | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |     11717 | NS      | $583168.00    | 0.23%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Carry Technologies, Inc. dba Hightouch                         | Carry Technologies, Inc. dba Hightouch - Preferred             | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |      2010 | NS      | $100040.13    | 0.04%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Databricks, Inc.                                               | Databricks, Inc.                                               | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |    122400 | NS      | $11322000.00  | 4.48%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DBH1 LP                                                        | DBH1 LP                                                        | CUSIP: N/A<br>LEI: N/A       | Long             |  |  | US        |         1 | OU      | $35284783.00  | 13.97%            |  |  |  | Yes           | N/A                | On Loan: No      |
| dbt Labs, Inc.                                                 | dbt Labs, Inc.                                                 | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |    441177 | NS      | $15000018.00  | 5.94%             |  |  |  | Yes           | 3                  | On Loan: No      |
| DittoLive, Inc.                                                | DittoLive, Inc.                                                | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |     73288 | NS      | $999992.78    | 0.40%             |  |  |  | Yes           | 3                  | On Loan: No      |
| HOF Capital AP Growth, LLC                                     | HOF Capital AP Growth, LLC                                     | CUSIP: N/A<br>LEI: N/A       | Long             |  |  | US        |         1 | OU      | $10248000.00  | 4.06%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Immuta, Inc.                                                   | Immuta, Inc.                                                   | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |     80000 | NS      | $1021600.00   | 0.40%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Inspectify, Inc.                                               | Inspectify, Inc.                                               | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |   1295462 | NS      | $4999965.01   | 1.98%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Quiet OA Access LP                                             | Quiet OA Access LP                                             | CUSIP: N/A<br>LEI: N/A       | Long             |  |  | US        |         1 | OU      | $35807532.00  | 14.18%            |  |  |  | Yes           | 3                  | On Loan: No      |
| Luminos, Inc.                                                  | Luminos, Inc.                                                  | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |         1 | OU      | $197670.00    | 0.08%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Omni Analyitics, Inc.                                          | Omni Analytics, Inc.                                           | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |     58036 | NS      | $588230.00    | 0.23%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Ramp Business Corp.                                            | Ramp Business Corp. - Common                                   | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |     26400 | NS      | $1254000.00   | 0.50%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Ramp Business Corp.                                            | Ramp Business Corp. - Preferred                                | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |    133333 | NS      | $6333318.00   | 2.51%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Rhino Labs, Inc.                                               | Rhino Labs, Inc., Series D                                     | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |    469695 | NS      | $391435.00    | 0.15%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Rhino Labs, Inc.                                               | Rhino Labs, Inc., Series P                                     | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |     10233 | NS      | $1023348.16   | 0.41%             |  |  |  | Yes           | 3                  | On Loan: No      |
| SaxeCap Advisors VIII, LP                                      | SaxeCap Advisors VIII, LP                                      | CUSIP: N/A<br>LEI: N/A       | Long             |  |  | US        |         1 | OU      | $12204478.00  | 4.83%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Stripe, Inc.                                                   | Stripe, Inc.                                                   | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |      9804 | NS      | $348042.00    | 0.14%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Theory Ventures, LP                                            | Theory Ventures, LP                                            | CUSIP: N/A<br>LEI: N/A       | Long             |  | PF                | US        |         1 | OU      | $4037622.00   | 1.60%             |  |  |  | Yes           | N/A                | On Loan: No      |
| Vanta, Inc.                                                    | Vanta, Inc.                                                    | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |    554888 | NS      | $6453347.44   | 2.55%             |  |  |  | Yes           | 3                  | On Loan: No      |
| Visual Layer, Inc.                                             | Visual Layer, Inc.                                             | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |         1 | OU      | $5000000.00   | 1.98%             |  |  |  | Yes           | 3                  | On Loan: No      |

### Signature

**Date Signed:** 2025-08-12

**Name of Applicant:** Fundrise Growth Tech Fund, LLC

**Signature:** /s/ Lauren Stuntebeck

**Name of Signer:** Lauren Stuntebeck

**Title:** Assistant Treasurer