Formation and Organization	6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Formation and Organization	Formation and Organization Rise Companies Corp. (“Rise,” “Rise Companies,” “we,” “our,” the “Company,” and “us”) is a financial technology company that owns and operates a leading web-based and mobile application direct investment platform located at www.fundrise.com (the “Fundrise Platform”). We operate through the following significant consolidated subsidiaries, with the following activities: •Fundrise, LLC (“Fundrise, LLC”), a wholly-owned subsidiary of Rise, owns and operates the Fundrise Platform that allows investors to become equity or debt holders in most of our alternative investment opportunities. •Fundrise Advisors, LLC (“Fundrise Advisors”), a wholly-owned subsidiary of Rise, is a registered investment adviser with the SEC that acts as the non-member manager for the fund programs sponsored by the Company and offered for investment via the Fundrise Platform. •Moat Investments, LP (f/k/a Fundrise, L.P.) (“Moat”), is an affiliate of Rise and was created with the intent to directly benefit the Company by driving its growth and profitability primarily through (i) acquisition, lending, holding, and distribution or other disposition of real estate investments, including investments in the Sponsored Programs (as defined below), and (ii) temporarily investing any idle cash. Pursuant to the terms of its partnership agreement, Moat initiated dissolution proceedings in the first six months of 2026. As of June 30, 2026, a majority of its assets have been distributed. Rise holds an approximately 2% economic interest in the remaining assets of Moat and has the ability to direct its assets. Refer to Note 15, Related Party Transactions for more information on the dissolution. •Fundrise Real Estate, LLC (“Fundrise Real Estate”), a wholly-owned subsidiary of Rise, is a real estate operating platform through which many of the real estate assets of our Investment Products (as defined below) are managed. •RealAI Systems, LLC (“RealAI”), a wholly-owned subsidiary of Rise, is an artificial intelligence (“AI”)-powered real estate analytics platform. The Company has sponsored the following investment programs as of June 30, 2026, that are registered as investment companies under the Investment Company Act, and from which we generate fees related to asset management and other services performed: •Fundrise Real Estate Interval Fund, LLC (the “Flagship Fund”) is a Delaware limited liability company that is registered under the Investment Company Act, as a non-diversified, closed-end management investment company that is operated as an interval fund. •Fundrise Income Real Estate Fund, LLC (the “Income Interval Fund”) is a Delaware limited liability company that is registered under the Investment Company Act, as a non-diversified, closed-end management investment company that is operated as an interval fund. •Fundrise Innovation Fund, LLC (f/k/a Fundrise Growth Tech Fund, LLC) (the “Innovation Fund”), whose shares trade on the New York Stock Exchange (“NYSE”) under the ticker symbol “VCX”, is a Delaware limited liability company that is registered under the Investment Company Act, as a non-diversified, closed-end management investment company. On March 19, 2026, the Innovation Fund listed on the NYSE and converted from a closed-end tender offer fund into a listed closed-end fund. The Company has sponsored the following investment programs from which we generate fees related to asset management and other services performed. Except for Fundrise eREIT (as defined below), each of these investment programs is exempt from registration under the Securities Act as of June 30, 2026: •Fundrise eREIT, LLC (“Fundrise eREIT”), Fundrise Growth eREIT VII, LLC and Fundrise Balanced eREIT II, LLC are real estate investment trust programs (collectively, the “eREITs”). Fundrise eREIT resulted from the mergers completed in April 2026 among Fundrise Equity REIT, LLC, Fundrise West Coast Opportunistic REIT, LLC, Fundrise East Coast Opportunistic REIT, LLC, Fundrise Midland Opportunistic REIT, LLC, Fundrise Growth eREIT II, LLC, Fundrise Growth eREIT III, LLC, and Fundrise Development eREIT, LLC; collectively, the “Mergers”. The Mergers were effected through a registered offering on Form S-4 under the Securities Act. Fundrise eREIT has not raised capital from investors since the completion of the Mergers, and any future offering of its shares may be exempt from registration under the Securities Act. The eREITs use a typical real estate investment trust (“REIT”) structure similar to other publicly offered REITs, but are only available to investors via the internet on the Fundrise Platform. “eREIT®” is our registered trademark. ◦Fundrise eREIT pursues a balanced strategy focused on long-term capital appreciation with a focus primarily on commercial real estate, including multifamily and build-for-rent properties, industrial, creative office properties, and development projects. ◦Fundrise Growth eREIT VII, LLC pursues a strategy focused on long-term capital appreciation with a focus primarily on commercial real estate, including multifamily and build-for-rent properties. ◦Fundrise Balanced eREIT II, LLC pursues a strategy focused on long-term capital appreciation with a focus primarily on newly built multifamily properties. •Fundrise Opportunity Fund, LP and Fundrise Opportunity Zone OP, LLC (collectively referred to as the “Opportunity Fund” or the “oFund”), make up a tax-advantaged real estate investment fund program offered under Regulation D (“Regulation D”) of the Securities Act. The oFund focuses on high-quality real estate properties located in qualified opportunity zones, as designated under the Internal Revenue Code of 1986, as amended (the “Code”), and is invested in mixed-use development and creative office properties. •Fundrise Opportunistic Credit Fund, LLC and Fundrise Opportunistic Credit Fund II, LLC (collectively, the “Credit Funds”) are Delaware limited liability companies offered under Regulation D, that are offered through the Fundrise Platform. The Credit Funds focus on private credit investments such as preferred equity positions and asset backed securities primarily in the multifamily and single-family rental markets. The eREITs, oFund, Credit Funds, Flagship Fund, Income Interval Fund and Innovation Fund are referred to, individually or collectively as the context requires, as the “Sponsored Programs,” or the “Investment Products.” In connection with the closing of the Mergers, Fundrise eREIT entered into a real estate services agreement with Fundrise Real Estate, pursuant to which Fundrise Real Estate will be entitled to receive fees and expense reimbursements for services relating to the investment in and management of Fundrise eREIT’s assets, similar to Fundrise Real Estate's arrangements with other Sponsored Programs.

Rise Companies Corp. (“Rise,” “Rise Companies,” “we,” “our,” the “Company,” and “us”) is a financial technology company that owns and operates a leading web-based and mobile application direct investment platform located at www.fundrise.com (the “Fundrise Platform”).

•Fundrise, LLC (“Fundrise, LLC”), a wholly-owned subsidiary of Rise, owns and operates the Fundrise Platform that allows investors to become equity or debt holders in most of our alternative investment opportunities.

•Fundrise Advisors, LLC (“Fundrise Advisors”), a wholly-owned subsidiary of Rise, is a registered investment adviser with the SEC that acts as the non-member manager for the fund programs sponsored by the Company and offered for investment via the Fundrise Platform.

•Moat Investments, LP (f/k/a Fundrise, L.P.) (“Moat”), is an affiliate of Rise and was created with the intent to directly benefit the Company by driving its growth and profitability primarily through (i) acquisition, lending, holding, and distribution or other disposition of real estate investments, including investments in the Sponsored Programs (as defined below), and (ii) temporarily investing any idle cash. Pursuant to the terms of its partnership agreement, Moat initiated dissolution proceedings in the first six months of 2026. As of June 30, 2026, a majority of its assets have been distributed. Rise holds an approximately 2% economic interest in the remaining assets of Moat and has the ability to direct its assets. Refer to Note 15, Related Party Transactions for more information on the dissolution.

•Fundrise Real Estate, LLC (“Fundrise Real Estate”), a wholly-owned subsidiary of Rise, is a real estate operating platform through which many of the real estate assets of our Investment Products (as defined below) are managed.

The Company has sponsored the following investment programs as of June 30, 2026, that are registered as investment companies under the Investment Company Act, and from which we generate fees related to asset management and other services performed:

•Fundrise Real Estate Interval Fund, LLC (the “Flagship Fund”) is a Delaware limited liability company that is registered under the Investment Company Act, as a non-diversified, closed-end management investment company that is operated as an interval fund.

•Fundrise Income Real Estate Fund, LLC (the “Income Interval Fund”) is a Delaware limited liability company that is registered under the Investment Company Act, as a non-diversified, closed-end management investment company that is operated as an interval fund.

•Fundrise Innovation Fund, LLC (f/k/a Fundrise Growth Tech Fund, LLC) (the “Innovation Fund”), whose shares trade on the New York Stock Exchange (“NYSE”) under the ticker symbol “VCX”, is a Delaware limited liability company that is registered under the Investment Company Act, as a non-diversified, closed-end management investment company. On March 19, 2026, the Innovation Fund listed on the NYSE and converted from a closed-end tender offer fund into a listed closed-end fund.

The Company has sponsored the following investment programs from which we generate fees related to asset management and other services performed. Except for Fundrise eREIT (as defined below), each of these investment programs is exempt from registration under the Securities Act as of June 30, 2026:

•Fundrise eREIT, LLC (“Fundrise eREIT”), Fundrise Growth eREIT VII, LLC and Fundrise Balanced eREIT II, LLC are real estate investment trust programs (collectively, the “eREITs”). Fundrise eREIT resulted from the mergers completed in April 2026 among Fundrise Equity REIT, LLC, Fundrise West Coast Opportunistic REIT, LLC, Fundrise East Coast Opportunistic REIT, LLC, Fundrise Midland Opportunistic REIT, LLC, Fundrise Growth eREIT II, LLC, Fundrise Growth eREIT III, LLC, and Fundrise Development eREIT, LLC; collectively, the “Mergers”. The Mergers were effected through a registered offering on Form S-4 under the Securities Act. Fundrise eREIT has not raised capital from investors since the completion of the Mergers, and any future offering of its shares may be exempt from registration under the Securities Act. The eREITs use a typical real estate investment trust (“REIT”) structure similar to other publicly offered REITs, but are only available to investors via the internet on the Fundrise Platform. “eREIT®” is our registered trademark.

◦Fundrise eREIT pursues a balanced strategy focused on long-term capital appreciation with a focus primarily on commercial real estate, including multifamily and build-for-rent properties, industrial, creative office properties, and development projects.

•Fundrise Opportunity Fund, LP and Fundrise Opportunity Zone OP, LLC (collectively referred to as the “Opportunity Fund” or the “oFund”), make up a tax-advantaged real estate investment fund program offered under Regulation D (“Regulation D”) of the Securities Act. The oFund focuses on high-quality real estate properties located in qualified opportunity zones, as designated under the Internal Revenue Code of 1986, as amended (the “Code”), and is invested in mixed-use development and creative office properties.

•Fundrise Opportunistic Credit Fund, LLC and Fundrise Opportunistic Credit Fund II, LLC (collectively, the “Credit Funds”) are Delaware limited liability companies offered under Regulation D, that are offered through the Fundrise Platform. The Credit Funds focus on private credit investments such as preferred equity positions and asset backed securities primarily in the multifamily and single-family rental markets.

The eREITs, oFund, Credit Funds, Flagship Fund, Income Interval Fund and Innovation Fund are referred to, individually or collectively as the context requires, as the “Sponsored Programs,” or the “Investment Products.”

In connection with the closing of the Mergers, Fundrise eREIT entered into a real estate services agreement with Fundrise Real Estate, pursuant to which Fundrise Real Estate will be entitled to receive fees and expense reimbursements for services relating to the investment in and management of Fundrise eREIT’s assets, similar to Fundrise Real Estate's arrangements with other Sponsored Programs.