Robinhood Launches Second Venture Fund with Target of Up to $200 Million IPO

Robinhood (NASDAQ:HOOD) is seeking to rise up to $200 cardinal done the U.S. archetypal nationalist offering of its 2nd backstage markets concern fund, according to a regulatory filing released connected Monday.

The caller vehicle, Robinhood Ventures Fund II (RVII), plans to connection arsenic galore arsenic 8 cardinal shares, including 400,000 shares owned by Robinhood itself. The shares are being marketed astatine $25 each.

Expansion of Retail Access to Private Markets

The caller offering forms portion of Robinhood's broader strategy to springiness retail investors greater entree to backstage companies, an country traditionally dominated by starring Silicon Valley task superior firms.

Robinhood Ventures Fund II volition absorption connected investing successful early-stage and growth-stage backstage businesses, with peculiar accent connected companies that presently enactment in, oregon person antecedently graduated from, the Y Combinator startup accelerator.

Building connected the First Venture Fund

The motorboat follows the debut of Robinhood Ventures Fund I successful March.

That earlier money chiefly targets later-stage backstage companies and expanded its portfolio earlier this twelvemonth with an concern successful OpenAI.

Robinhood Chief Executive Vlad Tenev has antecedently said that customers are progressively looking for opportunities to put successful emerging artificial quality companies earlier they scope the nationalist markets.

Major Banks Back the Offering

Goldman Sachs is acting arsenic the pb bookrunner for the offering.

Citigroup, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities are serving arsenic associated bookrunners.

The play for investors to petition IPO shares is expected to stay unfastened until August 12.

Roadshow Underway Ahead of NYSE Listing

Robinhood was scheduled to statesman the selling roadshow for Robinhood Ventures Fund II connected Monday astatine 12:00 p.m. ET (1600 GMT).

Following the offering, the fund's shares are expected to commercialized connected the New York Stock Exchange nether the ticker awesome "RVII."

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