Introduction and Background Fundrise Advisors, LLC (“Fundrise Advisors” or the “Firm”) is a wholly owned subsidiary of Rise Companies Corp. (“Rise”), which was founded in 2012. Rise owns and operates, through its subsidiary Fundrise, LLC, an online investment platform located at www.fundrise.com and through various mobile applications (the “Fundrise Platform”), that allows individuals to become investors in asset classes that may have been historically difficult to access for such individuals. Through the use of the Fundrise Platform, investors can browse various investment opportunities, view details of an investment and sign legal documents online. Fundrise Advisors relies on Rise’s personnel to perform services on its behalf, as Fundrise Advisors currently has no employees and does not currently intend to hire any employees who will be compensated directly by Fundrise Advisors. The term “Client” used in this Form ADV shall refer collectively to the eDirect Funds (as defined below), the Fundrise Opportunity Fund (as defined below), the Fundrise Credit Fund (as defined below) and Individual Clients (each as defined below). “eDirect Fund Investors” are investors in the eREITs® (as defined below), the Fundrise eFundTM (as defined below), the Fundrise Interval Funds (as defined below), and the Fundrise Innovation Fund (as defined below). Investors in any of the Rise-sponsored pooled investment vehicles who have not otherwise signed up to become Individual Clients, are not considered clients of Fundrise Advisors for purposes of this Form ADV or otherwise. eDirect Funds, Fundrise Opportunity Fund and Fundrise Credit Fund Clients As of March 1, 2024, Fundrise Advisors manages and advises each of the fifteen (15) pooled investment vehicles sponsored by Rise. The list of pooled investment vehicles sponsored by Rise as of March 1, 2024 include: ● Fundrise Real Estate Interval Fund, LLC, an interval fund registered under the Investment Company Act of 1940 (the “1940 Act”) (the “Fundrise Flagship Fund”); ● Fundrise Income Real Estate Fund, LLC, an interval fund registered under the 1940 Act (the “Income Interval Fund”); ● Fundrise Growth Tech Fund, LLC, a tender offer fund registered under the 1940 Act (the “Fundrise Innovation Fund”); and ● Fundrise Equity REIT, LLC, a real estate investment trust qualified under Regulation A (“Regulation A”) of the Securities Act of 1933, as amended (the “Securities Act”) (the “Growth eREIT”); ● Fundrise Growth eREIT II, LLC, a real estate investment trust qualified under Regulation A (the “Growth eREIT II”); ● Fundrise Growth eREIT III, LLC, a real estate investment trust qualified under Regulation A (the “Growth eREIT III”); ● Fundrise Development eREIT, LLC, a real estate investment trust qualified under Regulation A (the “Development eREIT”); ● Fundrise Growth eREIT VII, LLC, a real estate investment trust qualified under Regulation A (the “Growth eREIT VII”); ● Fundrise Balanced eREIT II, LLC, a real estate investment trust qualified under Regulation A (the “Balanced eREIT II”); ● Fundrise West Coast Opportunistic REIT, LLC, a real estate investment trust qualified under Regulation A (the “West Coast eREIT”); ● Fundrise East Coast Opportunistic REIT, LLC, a real estate investment trust qualified under Regulation A (the “East Coast eREIT”); ● Fundrise Midland Opportunistic REIT, LLC, a real estate investment trust qualified under Regulation A (the “Heartland eREIT”); ● Fundrise eFund, LLC, a real estate investment partnership qualified under Regulation A (the “Fundrise eFund”); ● Fundrise Opportunity Fund, LP, an opportunity zone fund (the “Fundrise Opportunity Fund”); and ● Fundrise Opportunistic Credit Fund, LLC, real estate investment trust conducting an offering under Regulation D of the Securities Act (the “Fundrise Credit Fund”). As used herein, the term “eREIT®” refers to all nine (9) of the real estate investment trusts registered under Regulation A; the term “Fundrise Interval Funds” refers to both of the interval funds registered under the 1940 Act; and the term “eDirect Funds” refers to all of the foregoing, except for the Fundrise Opportunity Fund and Fundrise Credit Fund. Fundrise Advisors may expand its business to manage more such eDirect Funds. Each of the Rise-sponsored pooled investment vehicles managed and advised by Fundrise Advisors that are conducting a securities offering has, and shall have, an offering document and a subscription agreement that shall be referred to hereafter as “Offering Documents”. Offering Documents are available for review at fundrise.com/oc. This Form ADV, Part 2A may also from time to time refer to investors within the various eDirect Funds as “eDirect Fund Investors”. Fundrise Advisors’ role with respect to the eDirect Funds, the Fundrise Opportunity Fund and the Fundrise Credit Fund is typically to advise and administer such pooled investment vehicles. Fundrise Advisors selects the investments and manages the operations of the eDirect Funds, the Fundrise Opportunity Fund and the Fundrise Credit Fund. Fundrise Advisors also typically provides marketing, investor relations and other administrative services on behalf of the eDirect Funds, the Fundrise Opportunity Fund and the Fundrise Credit Fund. Individual Clients Fundrise Advisors also performs investment advisory services solely in a non-discretionary capacity for individual clients who have signed up for such advisory services offered by Fundrise Advisors as discussed below (“Individual Clients”). Such services include providing non-personalized advice with respect to investments in securities to individuals using computer software-based models or applications by means of the Fundrise Platform, an “interactive website”, based upon personal preferences which each client supplies through the Fundrise Platform. As of the date of this Form ADV, Fundrise Advisors offers Individual Clients the ability to participate in Portfolio Investment Plans (as defined below), Auto-Investment Plans (as defined below), and Re-Investment Plans (as defined below) (collectively referred to herein as “Plans”). Portfolio Investment Plans Each Individual Client generally has the ability to select a suggested portfolio allocation among the eDirect Funds managed by Fundrise Advisors (a “Portfolio Investment Plan”), based upon a portfolio algorithm established by the Investment Committee of Fundrise Advisors (the “Investment Committee”) (or any committee designated responsibility and authority by the Investment Committee), as updated from time to time as the Investment Committee deems necessary, and based upon the preferences provided to Fundrise Advisors by such Individual Client as applied to individual eDirect Fund vehicle strategies in current market conditions. After providing Fundrise Advisors with information relating to his/her investment objectives, Fundrise Advisors will, based upon the software model, recommend a Portfolio Investment Plan composed of eDirect Funds to the Individual Client. Each Individual Client may either accept the Portfolio Investment Plan suggested by the Firm or choose another Portfolio Investment Plan as such Individual Client sees fit. In choosing a Portfolio Investment Plan, such Individual Client may choose among several financial goals developed by the Investment Committee, including the maximization of current income, diversification, or long-term growth. Fundrise Advisors performs investment advisory services for Individual Clients pursuant to such Individual Client’s chosen Portfolio Investment Plan. In the event of a liquidation, termination, or winding up of any eDirect Fund or the distribution of proceeds from the liquidation of an investment held by an eDirect Fund (a “Liquidation Event”), Fundrise Advisors will provide the eDirect Fund making the distribution with instructions to deliver the proceeds of the Liquidation Event for reinvestment, to the Designated Issuer(s) (as defined below) set forth in the Individual Client’s chosen Investment Plan. Each Portfolio Investment Plan is made up solely of certain eDirect Funds that the Individual Client has previously agreed to have included in such Individual Client’s chosen Portfolio Investment Plan (each such Fund, a “Designated Issuer”). Each Portfolio Investment Plan and their corresponding Designated Issuers are made publicly available as an appendix to the Fundrise Advisors Client Agreement. Fundrise Advisors cannot revise the Designated Issuers of a given Portfolio Investment Plan without first providing each affected Individual Client with at least thirty (30) days prior notice, during which the Individual Client will have the opportunity to cancel investment through the Individual Client’s chosen Auto-Investment Plan or Reinvestment Plan (each, as defined below) or change the Individual Client’s chosen Portfolio Investment Plan; provided, however, the removal of a Designated Issuer from as a result of a merger between one or more of the Designated Issuers, the addition of new Investment Plans not previously offered, or the liquidation and winding up of any of the Designated Issuers, shall not require any notice to the Individual Client. Individual Clients enrolled in a particular Portfolio Investment Plan, either through an Auto- Investment Plan or Re-Investment Plan, shall also have the Designated Issuers eligible to be included in their Portfolio Investment Plans updated upon at least thirty (30) days prior notice. The Designated Issuers as of the date of this Form ADV Part 2 are as follows: Basic Supplemental Income Balanced Investing Fundrise East Coast Opportunistic REIT, LLC Balanced Fundrise Midland Opportunistic REIT, LLC Balanced Fundrise West Coast Opportunistic REIT, LLC Balanced Fundrise Equity REIT, LLC Growth Long-Term Growth Fundrise East Coast Opportunistic REIT, LLC Balanced Fundrise Equity REIT, LLC Growth Fundrise Growth eREIT II, LLC Growth Fundrise Growth eREIT III, LLC Growth Fundrise Growth eREIT VII, LLC Growth Fundrise Development eREIT, LLC Growth Venture Capital Fundrise Growth Tech Fund, LLC Growth Auto-Investment Plans Fundrise Advisors also performs investment advisory services for Individual Clients who have signed up for auto-investment services as described below. Such services include providing non-personalized investment management services, as well as non-personalized advice with respect to investments in eDirect Funds to individuals using computer software-based models or applications by means of the Fundrise Platform, an “interactive website”, based upon personal information which each client supplies through the Fundrise Platform. An Individual Client may direct that Fundrise Advisors provide the Designated Issuers in the Individual Client’s Portfolio Investment Plan with instructions to receive proceeds from the Individual Client to enable the Individual Client’s ability to automatically invest in the Designated Issuers pursuant to the Individual Client’s Portfolio Investment Plan at certain pre-set intervals and at certain dollar amounts as chosen by the Individual Client (the “Auto-Investment Plan”). Individual Clients receive securities purchased in uncertificated form upon a Designated Issuer receiving payment from such Individual Client, and each Individual Client may verify the amount of securities received at any time on the Fundrise Platform, and each Individual Client may verify the amount invested by accessing the Individual Client’s financial institution’s website or reviewing the periodic account statements received from the Individual Client’s financial institution. Individual Clients are instructed to regularly review these account statements and websites and contact Fundrise Advisors and its financial institution if the Individual Client has any questions or concerns. Re-Investment Plans An Individual Client may elect to participate in a distribution

reinvestment plan administered by Fundrise Advisors (the “Re-Investment Plan”), pursuant to which the income dividends, capital gains or other distributions declared by an eDirect Fund, net of any applicable U.S. withholding tax, will be reinvested in the eDirect Fund, provided that, if an Individual Client participates in a Portfolio Investment Plan, such distributions will be reinvested in the Designated Issuers in accordance with such Portfolio Investment Plan. If an Individual Client does not elect to participate in a Re-Investment Plan, distributions will be distributed out to their designated external bank account. Up until the last calendar day of a distribution period, the Individual Client may choose a different Portfolio Investment Plan as s/he sees fit, and setup a Re-Investment Plan whereby the client authorizes the Firm to (i) allocate Individual Client’s distributions to the Designated Issuers in accordance with the chosen Portfolio Investment Plan, (ii) provide the Fund making a distribution with instructions to deliver such distribution proceeds for reinvestment (other than distributions pursuant to a Liquidating Event) to Designated Issuers in accordance with the Portfolio Investment Plan designated by the Individual Client (iii) execute subscription documents with the various Designated Issuers on their behalf, and (iv) update the Re-Investment Plan to reflect any changes to the underlying Portfolio Investment Plan as determined by the Investment Committee from time to time. For purposes of this Form ADV, a “distribution period” is defined as that period of time designated by each eDirect Fund, as indicated in such eDirect Funds’ public filings with the Securities and Exchange Commission (“SEC”), when announcing dividend declarations, which generally follow calendar months or quarters. Solely as an example, if an eDirect Fund were to declare a daily dividend with record dates from July 1, 2024 through September 30, 2024, the distribution period would begin on July 1, 2024 and end on September 30, 2024, and an Individual Client could select a new Portfolio Investment Plan or withdraw from the Re-Investment Plan for such distribution period through September 30, 2024, and the distributions would be distributed in accordance with such Individual Client’s updated preferences. In the event that a distribution to an investor on a given distribution date cannot be re-invested, the entirety of such distribution shall instead be sent to the Individual Client's bank account on record. Securities recommendations and risks On behalf of Individual Clients, Fundrise Advisors recommends certain allocations of eDirect Fund securities pursuant to Portfolio Investment Plans, and is required to allocate the eDirect Fund distributions of an Individual Client in accordance with the Re-Investment Plan and Portfolio Investment Plan chosen by such Individual Client. Individual Clients may withdraw from a Re-Investment Plan, or modify the chosen Portfolio Investment Plan, at any time (unless otherwise limited by the terms of such Plan). Although for the Individual Clients Fundrise Advisors solely provides limited, non-discretionary and non- personalized allocation advice that is designed to be prudent and diversified, all investments, including investments in eDirect Fund securities, involve substantial risk, including possible total loss of principal. Individual Clients should be aware that fluctuations in the financial markets and other factors may cause declines in the value of the eDirect Funds. There is no guarantee that any particular asset allocation or mix of eDirect Funds will meet an Individual Client’s investment objectives or provide an Individual Client with a given level of income or appreciation, or protect against loss, particularly when future market conditions are drastically different from the information used to create a Portfolio Investment Plan. Diversification does not ensure a profit or protect against a loss. There is no assurance that Individual Clients will achieve positive investment results by using the advisory services of Fundrise Advisors. Fundrise Advisors does not guarantee the future performance of Individual Clients’ investments. Please consult each eDirect Fund’s offering documents for more information about eDirect Fund-specific risks. Individual Clients should carefully consider all of their options before signing up for a Plan. Other Services Fundrise Advisors may provide additional services to Clients in the future. In such event, this Form ADV Part 2A shall be updated as needed to reflect such services. Fundrise Advisors Registration Fundrise Advisors is registered with the SEC as a large advisory firm with over $100 million in assets under management. eDirect Funds, Fundrise Opportunity Fund and Fundrise Credit Fund Clients On behalf of the eDirect Funds, the Fundrise Opportunity Fund, the Fundrise Credit Fund and other types of pooled investment vehicles, Fundrise Advisors will typically formulate and oversee the implementation of the investment strategies, administration and operations of such funds. Fundrise Advisors expects that the other pooled investment vehicles that it advises in addition to the eDirect Funds, the Fundrise Opportunity Fund and the Fundrise Credit Fund will have strategies that are also real estate focused however asset classes or allocations may vary. The following enumerates certain potential conflicts of interest in addition to others described within this Form ADV, Part 2A, which should be carefully evaluated before making an investment in any Rise- sponsored pooled investment vehicle managed/advised by Fundrise Advisors. Valuation of Investments The management fee received by Fundrise Advisors is calculated based upon the eDirect Funds’, the Fundrise Opportunity Fund’s and the Fundrise Credit Fund’s net asset value (“NAV”). On behalf of any eDirect Fund, the Fundrise Opportunity Fund, the Fundrise Credit Fund and any other pooled investment vehicles that Fundrise Advisors advises, Fundrise Advisors expects that Rise’s internal accountants and asset management team will calculate (i) each eDirect Fund’s (with the exception of the Fundrise Interval Funds and Fundrise Innovation Fund), the Fundrise Opportunity Fund’s and the Fundrise Credit Fund’s NAV at periodic intervals as provided in each fund’s respective operating documents, and (ii) the Fundrise Interval Funds’ and Fundrise Innovation Fund’s NAV daily while shares are being offered to the public. The NAV is calculated by dividing the total assets minus liabilities, which in each case, Rise’s internal accountants and asset management team uses a process that reflects, but is not limited to (1) estimated fair value of each of the real estate investments or securities, (2) the price of liquid assets for which third party market quotes are available, (3) accruals of periodic distributions and (4) estimated accruals of operating revenues and expenses. Note, however, that the determination of an eDirect Fund’s (with the exception of the Fundrise Interval Funds and Fundrise Innovation Fund), the Fundrise Opportunity Fund’s or the Fundrise Credit Fund’s NAV is not based on, nor intended to comply with, fair value standards under U.S. generally accepted accounting principles (“GAAP”), and such fund’s NAV may not be indicative of the price that such fund would receive for its assets at current market conditions. With respect to the Fundrise Interval Funds and Fundrise Innovation Fund, the determination of NAV is done in accordance with the 1940 Act. Fundrise Advisors has a valuation policy for each of the various eDirect Funds (with the exception of the Fundrise Interval Funds and Fundrise Innovation Fund), the Fundrise Opportunity Fund, and the Fundrise Credit Fund that is administered and overseen by Fundrise Advisors in order to determine the estimate value of each real estate investment. The Board of Directors of each of the Fundrise Interval Funds and Fundrise Innovation Fund has approved procedures pursuant to which each of the Fundrise Interval Funds and Fundrise Innovation Fund values its investments, and has designated Fundrise Advisors the general responsibility for determining, in accordance with such procedures, the value of such investments. If market quotations are not readily available or are deemed unreliable, the Fundrise Interval Funds and Fundrise Innovation Fund will use the fair value of the securities or other investments as determined by Fundrise Advisor in good faith, taking into consideration all available information and other factors that Fundrise Advisor deems pertinent, in each case subject to the overall supervision and responsibility of each Board of Directors. To the extent practicable, Fundrise Advisors generally endeavors to maximize the use of observable inputs and minimize the use of unobservable inputs. The eDirect Funds, the Fundrise Opportunity Fund and the Fundrise Credit Fund typically estimate values of real estate equity and debt investments based on a discounted cash flow, or other income approach. Other methodologies that may also be used to estimate values of equity and debt investments include market and cost approach. Dependence on Key Employees While Fundrise Advisors does not have any employees, its success depends, in part, upon the ability of Rise’s executive officers and key real estate and debt finance professionals to achieve the targeted investment goals. The loss of any of these executives or other key personnel could adversely impact the ability to achieve such investment goals and objectives of the eDirect Funds, the Fundrise Opportunity Fund or the Fundrise Credit Fund. Competing Time Pressures Certain key executive officers of Fundrise Advisors are also officers, directors, managers and/or key professionals of Rise and its affiliates. As a result, they will face conflicts of interest, including time constraints, potential allocation of investment opportunities and significant conflicts created by our Firm’s compensation arrangements with each eDirect Fund, the Fundrise Opportunity Fund, the Fundrise Credit Fund and other affiliates of Rise. Conflict of Interest Policies If Fundrise Advisors has a conflict of interest that is not otherwise covered by an existing policy adopted by Fundrise Advisors or a transaction is deemed to be a “principal transaction”, Fundrise Advisors will appoint an independent representative (the “Independent Representative”) for the applicable eDirect Fund, the Fundrise Opportunity Fund or the Fundrise Credit Fund to protect the interests of the applicable fund investors and review and approve such transactions on behalf of such applicable fund. A principal transaction would occur if Fundrise Advisors or its affiliates knowingly purchased securities from or sold securities to a client such as the eDirect Funds, the Fundrise Opportunity Fund, the Fundrise Credit Fund or an Individual Client. Fundrise Advisors is only authorized to execute principal transactions with the prior approval of the Independent Representative and in accordance with applicable law. Such prior approval may include but not be limited to requiring the use of pricing methodologies for the valuation of assets and/or liabilities for which there are no readily observable market prices. Wrap Fee Program Fundrise Advisors does not offer or provide advisory services to a wrap fee program. Assets Under Management As of December 31, 2023, Fundrise Advisors had approximately $2.87 billion in assets under management. Business Continuity Policy Fundrise Advisors has developed and implemented a Business Continuity and Disaster Recovery Plan (the “Business Continuity Plan”) to be followed by the Firm in the event of a disaster or event that does not allow access to Fundrise Advisors’ principal offices located at 11 Dupont Circle NW, 9th Floor, Washington, DC 20036.