Robinhood to Launch Private Markets Fund, Drawing ICO Comparisons

Robinhood announced Robinhood Ventures Fund I (RVI) and expects it to list on the New York Stock Exchange in the coming weeks under the symbol RVI, offering customers IPO shares through Robinhood at $25 per share as part of an effort to address longstanding imbalances in access to capital markets.

The fund will provide exposure to private companies including Revolut, Oura, Ramp, Databricks, Airwallex, Mercor and Boom, and Robinhood plans to add more firms over time, including Stripe. RVI is structured to be available without accreditation requirements or minimum investment thresholds, charges a management fee but no performance fee, and its shares are expected to trade daily subject to market conditions, Robinhood CEO Vlad Tenev said it would help open up private markets to a broader group of investors.

Despite being an SEC-registered, exchange-listed vehicle, RVI’s holdings are private companies whose valuations stem from infrequent funding rounds rather than continuous public pricing.

United States, New York

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