Just two months after launching its first venture fund, Robinhood is preparing a second one. The company has filed confidential registration documents for a new fund called RVII. Unlike the first fund, which invested in companies like Airwallex, Databricks, OpenAI, and Stripe, the new fund will expand its scope to focus on early and growth-stage startups. This is according to reported by.
Robinhood's first fund (RVI) went public on the NYSE in March at $21 per share. Currently, its shares have exceeded $43, largely driven by the success of the startups in the fund's portfolio in the field of artificial intelligence. The new fund will continue this strategy, allowing retail investors to invest in private companies.
Under US law, investing in private companies is typically restricted to wealthy investors. Robinhood is removing this barrier, enabling any user to make venture investments through their brokerage account. According to CEO Vlad Tenev, these funds offer daily liquidity and, unlike traditional venture funds, do not charge a carried interest.
Tenev's long-term vision is to fundamentally transform the startup financing system. He believes that startups should raise capital from retail investors even in their earliest stages. This allows ordinary people to benefit from the growth of companies, despite the high risks involved.
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