Robinhood Launches $200 Million IPO for Second Venture Fund
Robinhood is launching an initial public offering (IPO) for its second venture fund, Robinhood Ventures Fund II, targeting up to $200 million in capital. The fund will be listed on the New York Stock Exchange under the ticker symbol RVII with shares priced at $25 each and a listing date set for August 13, 2026. Structured as a business development company (BDC), it aims to provide retail investors access to early-stage private companies, particularly those associated with Y Combinator or its alumni founders. The offering includes up to 8 million shares and is open to all Robinhood Financial customers without accreditation requirements or investment minimums. The fund currently holds investments in 80 private companies and charges a base management fee of 2% annually plus an incentive fee on realized capital gains. Goldman Sachs leads the underwriting effort, with Citigroup, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities as joint bookrunners. Robinhood cited structural shifts in venture markets, including longer timelines from founding to IPO and a record $320 billion deployed by U.S. VC firms in 2025.
Tickers: $GS