The Fundrise Innovation Fund ( VCX ) announced a new investment in Erebor Bank, a newly chartered U.S. national bank designed specifically to serve technology companies and startups. Erebor is a tech-focused national bank founded by Palmer Luckey (co‑founder of Oculus VR and Anduril Industries), aiming to fill the void left by the collapse of Silicon Valley Bank in 2023. It targets startups, tech firms, and the people who invest in or work at them, with plans to offer lines of credit backed by crypto or private securities and loans for AI chips, among other tailored products. The bank received conditional approval in October 2025 and a full national charter in February 2026, with FDIC‑insured deposits. Other backers include Palantir cofounders Joe Lonsdale and Peter Thiel, with funding expected from Luckey, Lonsdale’s venture firm 8VC, Thiel’s Founders Fund, crypto-focused VC Haun Ventures, Andreessen Horowitz, Lux Capital, and other angel investors.