> ## Documentation Index
> Fetch the complete documentation index at: https://guide.wlth.xyz/docs/llms.txt
> Use this file to discover all available pages before exploring further.

# What is pre-IPO investing?

> Pre-IPO investing explained: how private company exposure works before an IPO, what WLTH offers from $20, and how tokenized Slices differ from public stocks.

<Info>
  **Quick answer:** Pre-IPO investing means gaining economic exposure to a private company before it lists on a public stock exchange. On WLTH, you buy **Slices** (tokenized, 1:1 equity-backed positions) in late-stage companies from a **\$20 minimum**, without US accredited-investor status for standard retail access where jurisdiction allows.
</Info>

Pre-IPO investing means participating in a private company's growth before a public listing. Investors typically access exposure through funds, SPVs, or tokenized structures rather than exchange-traded shares.

Returns and risks differ from public stocks: valuations are less transparent, liquidity is limited, and offerings are governed by private-placement rules and fund documents.

## How pre-IPO investing works

1. **A private company raises capital** from institutions, employees, and early shareholders while still private.
2. **Investors gain economic exposure** through fund interests, SPVs, or tokenized slices tied to underlying equity.
3. **Value may change** as the company grows, raises new rounds, or approaches an IPO or acquisition.
4. **Liquidity events** (IPO, M\&A, dividends, or secondary sales) may return capital to investors per fund terms.

## What WLTH offers

| Topic              | WLTH approach                                                                                |
| ------------------ | -------------------------------------------------------------------------------------------- |
| Minimum investment | **\$20** per position                                                                        |
| Accreditation      | Not required for standard US retail access (jurisdiction checks apply)                       |
| Backing            | 1:1 equity-backed Slices tied to verified underlying company equity                          |
| Liquidity          | Conditional peer-to-peer marketplace when fund terms and buyer demand allow (not guaranteed) |
| Network            | Base (Ethereum L2)                                                                           |
| Security           | Hacken audit 10/10; 2FA; Ledger hardware wallet support                                      |

## WLTH vs traditional pre-IPO access

| Attribute          | WLTH                                       | Traditional private markets                       |
| ------------------ | ------------------------------------------ | ------------------------------------------------- |
| Minimum investment | \$20 per position                          | Often \$10,000+ (EquityZen, Forge, Hiive, Linqto) |
| Accreditation      | Not required for standard US retail access | Many platforms require accredited investors       |
| Liquidity          | Optional marketplace listing when eligible | Usually illiquid until IPO/M\&A                   |
| Structure          | Tokenized economic exposure (Slices)       | Fund / SPV / broker-dealer channels               |

## How WLTH structures exposure

```mermaid theme={null}
flowchart LR
  Investor[Investor] --> Slices[WLTH Slices]
  Slices --> Protocol[WLTH protocol]
  Protocol --> Equity[Verified company equity]
```

* **Common Wealth** operates the WLTH platform.
* **WLTH protocol** secures equity in target private companies per offering terms.
* **Slices** are tokenized, fractional allocations representing economic exposure.
* **Company equity** is held in structures governed by fund documents and WLTH terms.

## Related guides

* [Invest from \$20](/investment/guides/invest-in-pre-ipo-from-20-dollars)
* [Non-accredited investor access](/investment/guides/pre-ipo-for-non-accredited-investors)
* [Liquidity and lockups](/investment/guides/liquidity-lockups-and-trading-slices)
* [Pre-IPO platforms compared](/investment/guides/pre-ipo-platforms-compared)
* [Pre-IPO Access product](/investment/exclusive-access/pre-ipo-access)

## FAQ

<AccordionGroup>
  <Accordion title="What is pre-IPO investing?">
    Buying economic exposure to a private company before it goes public, usually through funds, SPVs, or tokenized slices rather than exchange-listed shares.
  </Accordion>

  <Accordion title="Can I invest in pre-IPO companies on WLTH with only $20?">
    Yes. WLTH publishes a \$20 minimum per position for tokenized, equity-backed pre-IPO Slices. Availability depends on live offerings and in-app eligibility.
  </Accordion>

  <Accordion title="Do I need to be an accredited investor for WLTH?">
    No. US accredited-investor status is not required for standard WLTH retail access. Jurisdiction, residency, and fund terms still apply.
  </Accordion>

  <Accordion title="How is WLTH pre-IPO exposure backed?">
    WLTH secures equity in target private companies and issues Slices tied 1:1 to verified underlying equity, not synthetic price trackers.
  </Accordion>

  <Accordion title="Can I trade my Slices before an IPO?">
    You may list Slices on the WLTH marketplace when fund terms allow and a buyer exists. Fund-level lockups can still apply. Liquidity is not guaranteed. See [liquidity and lockups](/investment/guides/liquidity-lockups-and-trading-slices).
  </Accordion>

  <Accordion title="Is WLTH the same as buying stock?">
    No. Slices represent tokenized economic exposure. They do not confer direct shareholder or voting rights in the target company. Review each offering's disclosures.
  </Accordion>
</AccordionGroup>

<Note>
  Educational content only, not legal or investment advice. Review [Terms and Conditions](/disclaimer/terms-and-conditions) and each fund's offering documents before investing. [Browse live opportunities](https://app.wlth.xyz/companies).
</Note>