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Club deal, pre-IPO fund or platform: why choose a club deal

Why choose a club deal to invest in pre-IPO companies? Because in a club deal you choose each company yourself and your money goes into a vehicle that holds only that company. A fund decides for you and spreads the money across many names, and a listed fund adds a market price that can move away from the value of its holdings. A club deal combines your choice with the buying power of a group.

Key takeaways

The ways to reach pre-IPO companies

What a club deal does better

Choice. You decide which companies you want to own. If you believe in artificial intelligence you can choose OpenAI or Anthropic; if you prefer payments, Stripe or Revolut. Nothing is decided for you.

Focus. Each vehicle holds one company, so your result follows that company and you always know exactly what you own.

Group buying power. Sellers of large blocks, often early employees and funds, look for buyers who can take a sizeable position. A group of members reaches blocks that a single investor could not buy alone.

Entry price. Secondary shares are negotiated, not quoted, and often trade below the last funding round: in August 2026 the median secondary trade was 3% below the last primary round, and a quarter of trades priced at a discount of 30% or more (Forge Global, September 2026).

How Unicorn Club works

Unicorn Club is the investor club of Unicorn Private LLC. Members take part in club deals in the 30 largest pre-IPO companies in the world, including OpenAI, Anthropic, ByteDance, Databricks, Stripe, Waymo, Revolut and Anduril. Membership costs 99 dollars a month or 890 dollars a year; each investment starts at 100,000 dollars and is paid in full by wire or in BTC, ETH, USDT or USDC. Status as an accredited or qualified investor is confirmed in the app with a short questionnaire, according to the rules of the member's country.

Investing involves the risk of losing capital.

Frequently asked questions

Is a club deal the same as a fund?

No. A fund pools money across companies chosen by a manager. In a club deal each member chooses each company and joins a vehicle that holds only that company.

What is an SPV?

A special purpose vehicle is a company created to hold one investment. In a club deal the SPV buys the shares, and members hold interests in the SPV in proportion to what they paid.

Why not just buy a listed fund?

Listed funds are open to all investors, but their market price can differ from the value of their holdings and you do not choose the companies. A club deal gives you exposure to the company you choose.

How many companies can I invest in?

As many as you want among the deals open in Unicorn Club, with at least 100,000 dollars per deal.

Related guide

Sources

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