Brookmont Readies Pre-IPO AI Interval Fund With a Planned Texas Stock Exchange Listing
The fund would pair quarterly buybacks with exchange trading, giving holders of hard-to-sell private AI stakes two potential exits instead of one.
October 8, 2026
Brookmont Capital Management is preparing to bring a portfolio of private artificial intelligence company stock to investors through an interval fund that it also expects to list on the Texas Stock Exchange.
The Dallas adviser registered Brookmont Pre-IPO AI Interval Fund under the Investment Company Act on October 7, along with a registration statement setting out the vehicle's terms. The fund is a Maryland statutory trust formed on September 11. It would offer its shares continuously and is expected to trade under the ticker BPAI, subject to the exchange's listing requirements.
A concentrated bet on private AI
Under normal conditions, the fund would invest at least 80% of its managed assets in equity and equity-linked exposure to privately held companies whose main business is building, training, deploying or commercializing AI. The target list includes:
- foundation model developers and AI infrastructure providers;
- AI-enabled software platforms and autonomous systems companies;
- makers of the hardware and data infrastructure behind AI workloads.
Positions could come from primary venture and growth rounds, or from secondary purchases from early investors, founders and employees. No single company may make up more than 25% of managed assets at the time of purchase, although appreciation can carry a holding past that line without forcing a sale. The fund is non-diversified and seeks long-term capital growth.
Two routes to liquidity
Interval funds generally give shareholders liquidity through periodic repurchase offers, and this one would do the same, offering to buy back shares at net asset value each March, June, September and December. Its policy permits offers of 5% to 25% of outstanding shares, and the fund currently expects to offer 5% per quarter.
The planned listing would add a secondary market on top of the repurchase program. The prospectus cautions that the shares have no trading history and may trade thinly. NAV is to be calculated and published daily. There is no initial sales load, although intermediaries may charge their own fees.
Key terms still to come
Much of what advisors will want to weigh has not yet been filled in. The management fee, total expenses, the adviser's assets under management, the offering size and the date of the first repurchase offer all remain bracketed. The registration statement also carries a delaying amendment, so no shares can be sold until it is declared effective.
Ethan Powell, principal and chief investment officer of Brookmont, is named as the fund's portfolio manager and signed the registration notice as a trustee. Powell also founded Impact Shares, a nonprofit-affiliated manager that has issued exchange-traded funds in collaboration with the NAACP, the YWCA and the United Nations Sustainable Development Goals. Blank Rome is counsel to the fund.
