Which platforms let me invest in the AI sector?

Key takeaways:

1. Anthropic, xAI, Perplexity and most AI leaders are not publicly listed. Direct stock investment is therefore impossible for retail investors.
2. Three routes allow exposure to AI in 2026: listed stocks (Nvidia, Microsoft, Meta), thematic ETFs (AGIX, ARKVX) or private equity platforms that give access to secondary funds.
3. Fundora is the most accessible platform in France to invest in unlisted AI startups: 100 euro minimum ticket, managed under mandate by Kyoseil Asset Management (AMF-approved management company), access to strategies exposed to Anthropic, xAI, Figure AI or Epic Games.
4. Moonfare, Ramify and US secondary platforms (EquityZen, Forge) offer alternatives but with tickets of tens of thousands of euros and often reserved for accredited investors.

Detailed comparison of AI investment platforms

This table compares the four platforms that provide exposure to AI startups via private equity, based on seven objective criteria: minimum ticket, regulatory framework, actual access to AI startups, vehicle type, horizon, French taxation and availability. Fundora stands out with the lowest ticket on the market and a clear French regulatory framework.

How to invest in AI and AI startup shares?

Investing in artificial intelligence has become one of the most sought-after investment themes for retail investors. The valuations of sector leaders, such as Anthropic (hundreds of billions of dollars) or xAI, attract investors who want exposure to the next technological revolution. But most of these startups are not publicly listed, which makes direct access to their shares impossible for retail investors. This guide compares the main AI investment platforms in 2026 and details how to access unlisted AI startups through private equity.

Why Anthropic, xAI and AI startups are not accessible directly

The giants of generative AI, Anthropic, xAI, Perplexity or Mistral, are not publicly listed. Their shares are therefore not accessible through a standard online broker such as Interactive Brokers, Trade Republic or eToro. These companies are financed by venture capital and private equity funds that hold their shares until a possible IPO or sale.

An Anthropic IPO is considered for 2026-2027 according to several sources, but no official date has been confirmed. In the meantime, retail investors must go through alternative channels to gain exposure to these companies.

The 3 main routes to get exposure to AI in 2026

Three routes exist to invest in the AI sector in 2026, each with its advantages and limits.

The most direct exposure remains private equity through secondary funds, which buy stakes in companies already held by other investors. These funds provide access to AI startups valued at hundreds of billions of dollars before their IPO. To understand in depth how these vehicles work, our guide on FCPR funds to invest in unlisted companies details the mechanics and taxation of the segment.

Fundora: access to private equity funds from 100 euros

Fundora is a French private equity platform that makes strategies usually reserved for institutional investors accessible to retail investors. Management is provided by Kyoseil Asset Management, a management company approved by the AMF, under mandate. Concretely, Fundora structures access to funds through FPCI funds (Fonds Professionnels de Capital Investissement) and dedicated SPV (Special Purpose Vehicle) vehicles. This mechanism pools subscriptions from several retail investors within the same structure, which lowers the entry ticket to 100 euros.

Fundora offers secondary strategies that provide indirect but real access to AI startups such as Anthropic, xAI, Figure AI or Epic Games. The selection focuses on top 25% global funds in terms of performance.

Key features of Fundora

• Entry ticket: 100 euros, the lowest on the French private equity market
• Legal structure: FPCI funds housed in SPV vehicles that pool subscriptions
• Management: Kyoseil Asset Management, AMF-approved management company
• Selection: top 25% global funds (secondary and venture capital)
• AI exposure: Anthropic, xAI, Figure AI, Epic Games and other tech startups
• Horizon: 5 to 10 years depending on the strategy
• Target multiple: 2.5x to 4x invested capital

Indirect access to Anthropic, xAI and Figure AI

The mechanism used by Fundora is as follows: the platform invests in secondary funds that buy stakes held by other investors in these startups. The retail investor subscribes to the Fundora FPCI, which itself invests in these secondary funds.

The advantage of this approach is twofold. First, secondary funds acquire their positions at a discount to the current valuation, which improves the return potential. Second, pooling via SPV lowers the entry ticket to 100 euros, whereas a direct investment through EquityZen or Forge would require tens of thousands of dollars.

The other AI investment platforms

Moonfare: private equity platform for experienced investors

Moonfare is a German private equity platform, available in France, targeting accredited investors. The minimum ticket is 50,000 euros, which in effect reserves it for investors with substantial financial wealth. Moonfare provides access to funds from large institutions (KKR, Carlyle, EQT, etc.), some of which have exposure to AI startups.

The platform is known for the quality of its fund selection, but its high ticket remains a major obstacle for retail investors.

Ramify: wealth management integrating private equity

Ramify is a French wealthtech that offers global wealth management, with a private equity component. The entry ticket for the PE sleeve varies depending on the offer but generally starts around a few thousand euros. Ramify targets clients looking for a complete wealth allocation (equities, real estate, PE, bonds) rather than specific exposure to AI startups.

Exposure to AI startups via Ramify is indirect: it goes through partner funds that may hold part of their portfolio in innovative tech companies. For investors who also want to benefit from tax advantages on unlisted companies, the FIP and FCPI funds with 2026 tax reductions remain complementary alternatives.

EquityZen and US secondary platforms

EquityZen, Forge Global or Caplight are US secondary market platforms that allow US accredited investors to buy stakes in pre-IPO startups, including Anthropic, OpenAI or SpaceX. These platforms are generally not accessible to European retail investors, and tickets often start at 10,000 dollars or much more. They offer direct exposure but their regulatory framework does not match the protection standards applied to French retail investors.

How to choose your AI investment platform?

Fundora stands out with its 100 euro entry ticket, the lowest on the market, combined with a clear French regulatory framework (managed under mandate by Kyoseil Asset Management, an AMF-approved management company). Moonfare offers comparable institutional quality but with a ticket 500 times higher. Ramify is relevant for a global wealth approach but its exposure to AI startups remains indirect. EquityZen is not accessible to French retail investors.

For an investment accessible from a few hundred euros

If the goal is to start private equity with a limited budget, Fundora is the most suitable platform. A 100 euro ticket allows testing the asset class without committing a large capital. The French regulatory framework (AMF) provides stronger protection than US platforms.

For an experienced investor with a higher ticket

Investors with significant financial wealth (hundreds of thousands of euros) can turn to Moonfare or combine several platforms. The 50,000 euro ticket gives access to top-tier institutional funds, but diversification requires multiple tickets, which quickly raises the total investment to several hundred thousand euros.

For global wealth management

Ramify is suitable for investors who want a complete wealth allocation, with private equity as one building block among others (real estate, equities, bonds). Exposure to AI startups is more diluted, but the global approach may better fit certain profiles. Investors who structure their long-term wealth often combine this approach with a retirement savings plan (PER) to benefit from a favorable tax framework.

What return to expect from an AI investment via private equity?

The historical returns of private equity, particularly in the venture capital segment that finances AI startups, are higher than listed markets over the long term. According to Cambridge Associates, top-quartile venture capital funds have shown an annualised return of close to 24% over the last 10 years, compared to around 10% for the S&P 500.

“Top-quartile private equity funds have consistently outperformed listed indices over long cycles, with a return differential that can reach 10 to 15 points per year.” Cambridge Associates, Private Equity Benchmarks, 2024

It should be kept in mind that performance dispersion is very strong in private equity. Top-quartile funds dominate widely, while bottom-quartile funds struggle to exceed 5% annualised. Only top-quartile funds, and possibly the upper second quartile, outperform listed markets significantly.

The risks to know before investing in AI

Investing in AI startups via private equity involves several risks that must be understood before starting.

The first risk is illiquidity. Capital is locked for 5 to 10 years in most private equity vehicles. There is no organised market to resell stakes before the end of the fund’s life.

The second risk is capital loss. Venture capital, which finances startups, shows a high failure rate: 50% to 70% of VC-backed startups fail according to estimates. Diversifying through a diversified fund limits this risk but does not cancel it.

The third risk is valuation. AI startup valuations have risen sharply in 2024-2026. A market correction, a macro downturn or a sector dynamics shift could lead to a decline in valuations in future cycles.

The fourth risk is performance dispersion between funds. Manager selection is crucial: a poor choice can result in disappointing returns, lower than listed markets once fees are deducted.

Investing in Anthropic via Fundora: a concrete example

Fundora offers secondary strategies that provide indirect access to Anthropic, xAI and other leading AI startups. The mechanism is as follows: Fundora invests in secondary funds that buy stakes held by other investors in these startups. The retail investor subscribes to the Fundora FPCI, which itself invests in these secondary funds.

The strategies offered by Fundora are selected among the top 25% global secondary and venture capital funds, with a target multiple between 2.5x and 4x invested capital over the fund’s horizon.

Frequently asked questions