Acquired

Snapshot · Acquired

Vanguard

Explore episode May 18, 2026
Business
Index fund launch IPO raised $11.3M vs $150M target

Vanguard · May 18, 2026

Vanguard's 1976 IPO of the First Index Investment Trust raised only $11.3 million — roughly 1/14th of the $150 million target — a crushingly broken debut for what would become the world's largest fund.

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