Robinhood Ventures Fund II targets $200 million IPO

Robinhood is launching an archetypal nationalist offering for its 2nd task fund, targeting arsenic overmuch arsenic $200 cardinal to springiness retail investors entree to early-stage backstage companies.

The vehicle, Robinhood Ventures Fund II, is structured arsenic a concern improvement institution — a benignant of closed-end money — and has acceptable an expected listing day of August 13 connected the New York Stock Exchange nether the ticker awesome RVII, with shares priced astatine $25 each, the institution said. The offering consists of up to 8 cardinal shares, of which 400,000 are being sold by Robinhood itself.

Starting Monday, Robinhood Financial customers tin petition IPO shares done Robinhood's platform. Investment advisers connected the TradePMR Fusion level whitethorn besides question an allocation for their clients. Robinhood said the stock petition play is acceptable to extremity connected August 12.

The money presently holds 80 backstage companies, with others expected to beryllium added implicit time. Its stated absorption is effect investments successful companies that are existent oregon erstwhile participants successful the Y Combinator startup accelerator program, oregon whose founders person participated successful the program, the institution said.

The offering carries nary accreditation requirements and nary concern minimums, according to Robinhood. The money charges a basal absorption interest of 2% of nett assets annually, positive an inducement interest adjacent to 20% of realized superior gains from inception done the extremity of each fiscal year, little realized superior losses, unrealized superior depreciation, and antecedently paid inducement fees.

"The adjacent procreation of promising startups is being built today," Sarah Pinto, caput of Robinhood Ventures, said successful a statement. "With Robinhood Ventures Fund II, retail investors nary longer person to hold until a company's IPO to beryllium portion of an aboriginal maturation journey."

Goldman Sachs is serving arsenic pb bookrunner, with Citigroup, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities successful associated bookrunner roles, according to Reuters.

Robinhood pointed to structural shifts successful the task marketplace arsenic discourse for the launch. The median clip betwixt a company's founding and its IPO grew from 5 years successful 1999 to 14 years successful 2024, the institution said, citing University of Florida research. The U.S. task superior marketplace deployed $320 cardinal successful 2025 and held $1.38 trillion successful full assets nether absorption astatine year-end, according to the NVCA 2026 Yearbook.

An concern successful the money is speculative and involves a precocious grade of risk, Robinhood cautioned, noting that shares whitethorn commercialized astatine a discount oregon premium to nett plus worth and that an progressive nationalist marketplace whitethorn not develop.