Pre-IPO access to Blue Origin, the Bezos-founded space company behind New Glenn and the BE-4 engine.
Offering Details
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Additional Offering Details
This offering uses a soft-circle subscription structure. The Fund expects to acquire its exposure to Blue Origin directly or through a seller-sponsored Intermediate Vehicle, at a per-share price up to a Maximum Round Valuation of $130 billion. If the round prices above that cap, investors are notified and may choose to proceed at the new terms or withdraw for a full refund. The final per-Unit subscription price, number of Units, and implied valuation will be determined at Closing based on the Fund's actual acquisition of Portfolio Company Securities.
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*The 6% management fee is deducted from each Subscriber's subscription amount at Closing. A 1.5% administration reserve is withheld at each Closing and held in the Fund's bank account for an expected five years to cover K-1 preparation, CPA, and bank costs, with any unused portion returned to investors. The Intermediate Vehicle Fee (approximately 10%) is charged by an unaffiliated third-party sponsor, is embedded in the Fund's acquisition cost, and is not paid to or shared with the Manager. Together, these create a two-layer fee structure in which total costs borne by investors are higher than in a direct secondary purchase. Investors are responsible for conducting their own due diligence regarding investments. Please refer to the offering documents for additional information, disclosures, and a more detailed explanation of expenses, performance calculations, and risks.
About IPO CLUB
IPO CLUB is a venture capital investment platform providing access to pre-IPO and private market opportunities, specializing in late-stage companies within defense, AI, and energy resilience. The company was founded by Edoardo Zarghetta, who brings over two decades of investment banking experience, having held senior roles at Danske Bank, Mitsubishi UFJ International, and Credit Suisse.
About the investment opportunity
In late 2022, investors could enter SpaceX near a $130 billion valuation; the company raised at $127 billion in mid-2022 and $137 billion in January 2023. At its June 2026 IPO, roughly three and a half years later, SpaceX priced near $1.75 trillion.1 Blue Origin is now closing its first external financing round at approximately that same $130 billion mark.2
Blue Origin, LLC (Kent, WA) is a vertically integrated space company spanning launch, propulsion, lunar landers, and a proposed satellite constellation. Its New Glenn rocket reached orbit on its January 2025 debut; on a later flight in November 2025, it landed its first stage at sea for the first time. Blue Origin's BE-4 engine also powers United Launch Alliance's Vulcan rocket, making the company a propulsion supplier into a competitor's launch program. Blue Origin holds NASA's Artemis V crewed lunar lander award, targeted for 2029.3
Blue Origin does not disclose revenue, margin, or backlog, and most of its product lines have not yet flown. New Glenn launch operations are currently suspended following an April 2026 upper-stage failure and a May 2026 pad explosion that destroyed the vehicle and damaged its only launch site; the timing of a return to flight is uncertain.4
BLUE, a Series of IPO CLUB II LLC, will acquire its exposure to Blue Origin through a sub-allocation, structured as a soft-circle subscription capped at a $130 billion maximum gross valuation. If the round ultimately prices above that cap, investors will receive notice before their funds are used and can choose to either proceed at the revised terms or withdraw their subscription for a full refund. The Fund expects to acquire this exposure directly or through a seller-sponsored Intermediate Vehicle that carries its own fees, creating a two-layer fee structure borne indirectly by investors. Please refer to the offering documents for information on the full terms and structure.
The Manager has not obtained and does not possess material non-public information about Blue Origin. The information above reflects publicly available reporting only, has not been independently verified by the Manager, and Company-stated and Manager-sourced information should not be relied upon without independent investigation.
1 SpaceX and Blue Origin published flight logs; SpaceX June 2026 IPO pricing per exchange records and press reporting; SpaceX valuations per press reporting of its mid-2022 and January 2023 financing rounds.
2 PitchBook Private Company Profile, Blue Origin (data as of Jul. 2026); press reporting of Blue Origin's July 2026 external financing round.
3 Company-stated; NASA Artemis program disclosures.
4 Company flight records; press reporting (Apr.–May 2026).
Disclosures
Neither Alto Securities, LLC ("Alto Securities") nor any of its affiliates provide any investment advice or make any investment recommendations to any persons, ever, and no communication herein or otherwise shall be construed as investment advice or a recommendation about any specific security offering, investment, asset, or fund.
Private securities are intended for highly sophisticated investors and involve substantial risks. These risks include but are not limited to a lack of operating history, leverage, liquidity of the portfolio, segregated portfolio fund risk, diversification and concentration risk, and long-term investment risk. Past performance does not indicate future results; all investments carry inherent risks. Diversification does not eliminate risk, and returns on investments are not guaranteed. It is advisable to consult with financial professionals and conduct due diligence before making a decision. Furthermore, there is a risk that investors may receive little or no return on their investment or may lose part or all of their investment. However, there can be no assurance that the managers will successfully achieve the investment objective offered or deliver positive returns.
Investing in private securities carries a high risk and is considered speculative. Private securities are illiquid and do not trade like public markets. Illiquidity can result in investors having to sell their private securities at a price lower than their initial investment. This may lead to realized losses when exiting a position, and investors should be prepared for this possibility. An offering's investment objectives are not guaranteed to succeed under all market conditions. A fund's interest income may be affected by various factors, including investment performance, realized and projected market returns, fluctuations in market interest rates, and other pertinent factors. Regarding references to high-net-worth individuals and institutions, it is important to note that these investors typically possess substantial financial resources and longer investment horizons, which may differ from those of individual investors. Before participating in these opportunities, potential investors should carefully consider their financial circumstances, risk tolerance, and investment objectives.
Alto Securities, LLC ("Alto Securities") is a member of FINRA/SIPC.
Alto Securities, LLC serves as the placement agent for the fund's offering and will be compensated based on the investments made in the fund.
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