An article summarized by Bloomberg:
Robinhood has launched its second publicly traded private markets fund, Robinhood Ventures Fund II (RVII), which will invest primarily in private startups that have participated in the Y Combinator accelerator. The fund is offering 7.6 million shares at $25 each in an IPO expected to price on August 12th, giving public investors greater access to high-growth private companies.
The new fund will focus on early- and growth-stage startups, including Y Combinator alumni such as Airbnb, Stripe, and Instacart, while retaining the flexibility to invest in other private companies. It follows the successful launch of Robinhood Ventures Fund I, which raised over $315 million and holds stakes in companies like Databricks, Stripe, and Canva.
Major Wall Street banks, including Goldman Sachs, Citigroup, JPMorgan, UBS, and Wells Fargo, are underwriting the offering, and the fund will trade on the New York Stock Exchange under the ticker RVII. Robinhood CEO Vlad Tenev is also hosting a presentation to discuss the new investment vehicle.
