Erebor is a newly chartered national bank built to serve technology companies, filling a gap left by the collapse of Silicon Valley Bank
The Fundrise Innovation Fund (VCX) has announced a new investment in Erebor Bank, a newly chartered national bank built from the ground up to serve the technology industry.
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Founded by Palmer Luckey, the co-founder of Oculus VR and Anduril Industries, Erebor is designed to serve startups, technology companies, and the individuals who work at and invest in them. The bank aims to fill a gap in the market left by the collapse of Silicon Valley Bank in 2023, which had been a primary banking partner for early-stage technology firms and venture capital funds. Erebor plans to offer lines of credit backed by crypto or private securities, loans for AI chips, and other products tailored to the needs of technology businesses that traditional banks have been reluctant to serve. The bank received conditional approval from U.S. regulators in October 2025 and was granted its national charter in February 2026, with deposits insured by the FDIC. Erebor’s investors include Founders Fund, Andreessen Horowitz, Lux Capital, and 8VC.
Investments in private technology companies like Erebor have historically produced some of the strongest investment returns, however the opportunity to invest in them before they go public has remained largely out of reach for most individuals. The Fundrise Innovation Fund (VCX) is designed to bridge that gap, giving individual investors low-fee access to the types of companies that have traditionally been available only to top venture capital funds.
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