Naval personally overseeing the new fund has lowered the investment threshold for unlisted growth companies to $500. When such products are launched, the market's initial focus is often not on the return model, but on whether the AI and private equity narratives will continue to expand outward. Names like OpenAI and xAI carry inherent popularity, making it easier in the short term to drive assets like $OP and $ENA , which are more sentiment-driven. What truly matters is whether capital continues to flow in; otherwise, the excitement will fade after a while.