Madara Fund Advisors

Madara Fund Advisors is a San Francisco investment adviser formed in 2026 to build exchange-listed funds of funds that open private markets to public investors. The firm has applied for SEC registration as an investment adviser and expects the registration to take effect before its debut fund begins operations.

Its debut vehicle, the Madara AI & Frontier Technologies Fund, is a closed-end fund of funds organized as a Delaware statutory trust in October 2026, with a registration statement filed on October 23 and an application to list its common shares on the New York Stock Exchange under the ticker MXAI. Under normal conditions the fund will invest at least 80% of its assets in AI and frontier-technology investments, principally limited partner interests in private venture capital, growth equity, and private equity funds, along with related co-investments. Its themes span AI and machine learning, data infrastructure, cybersecurity, semiconductors, robotics, financial technology, space and defense, and technology-enabled health.

The fund is designed to launch with seed portfolios contributed through share-for-LP-interest swaps, in which existing fund investors exchange their limited partner interests for fund shares. The adviser will absorb the sales load and the offering costs.