Robinhood says Ventures Fund I expected to IPO in ‘coming weeks’

Robinhood (HOOD) stated: “For too long, private markets have been out of reach to everyday investors. At Robinhood, we believe access shouldn’t be limited to a select few. Today, we’re announcing that Robinhood Ventures Fund I (RVI), the first fund from Robinhood Ventures, is expected to IPO in the coming weeks on the New York Stock Exchange under the symbol RVI. Customers can request IPO shares of RVI through Robinhood at an expected price of $25 per share. RVI is a closed-end fund that provides retail investors exposure to a concentrated portfolio of private companies including Airwallex, Boom, Databricks, Mercor, Oura, Ramp, and Revolut with additional companies expected to be added over time. For example, we have entered into an agreement to buy shares of Stripe that we expect will close after the IPO.” “Opening up private markets will resolve one of the greatest longstanding inequities in capital markets today, and we’re excited to bring these opportunities to all with Robinhood Ventures Fund I,” added Robinhood CEO Vlad Tenev.