RiverNorth Capital Management, LLC, an independent investment manager, announced plans to launch the RiverNorth Prime Unicorn Funds, which will provide long or short exposure to 30 of the largest privately held U.S. companies. The funds aim to offer investors an efficient way to gain or hedge exposure to leading private companies without the liquidity constraints and structural complexity often associated with direct ownership. The offering targets companies tracked by the Prime Unicorn™ 30 Index (UNICORN), a benchmark developed by Lagniappe Labs and Level ETF Ventures’ Prime Indexes group.

The RiverNorth Prime Unicorn Funds consist of two distinct closed-end funds: the RiverNorth Long Prime Unicorn Fund I, Inc. (ticker: UNIU) and the RiverNorth Short Prime Unicorn Fund I, Inc. (ticker: UNID). Each fund is registered under the Investment Company Act of 1940 and is designed with a defined investment horizon of 366 days from the date of the prospectus, unless extended. RiverNorth will serve as the investment adviser to the funds.

Each fund is being offered at a price of $20 per share, with a minimum investment of 100 shares. The funds are expected to make their initial share offering and start trading on the New York Stock Exchange in late July. Lucid Capital Markets is acting as the Lead Bookrunner for the transaction.

Patrick Galley, Chief Executive Officer and Chief Investment Officer of RiverNorth, stated that the Long Fund may enable investors to participate in the growth of leading private companies, while the Short Fund seeks to provide the opportunity to take a short or hedging position against their valuations. He noted that this may represent the first in a series of similar offerings.

Preliminary prospectuses for the Long Fund and the Short Fund are available on the SEC website and through Lucid Capital Markets. RiverNorth managed approximately $4.9 billion in registered funds, private funds, and separately managed accounts as of May 31, 2026.