Robinhood’s $225.5M venture fund opens below IPO price

Robinhood Ventures Fund II has raised $225.5 million and opened at $22.50 on the New York Stock Exchange, 10% below its $25 initial public offering price. Summary RVII raised $225.5 million after offering 8 million shares at $25 each. The fund opened at $22.50 on the NYSE, 10% below its IPO price. Its portfolio targets early- and growth-stage companies connected to Y Combinator. Retail investors can buy RVII shares without investing directly in its private holdings. Reuters reported that Robinhood’s second publicly traded venture fund debuted on Thursday, giving individual investors access to early-stage companies usually available only to venture firms and wealthy investors. The listing completed an offering that crypto.news previously covered after Robinhood Ventures Fund II priced 8 million shares at $25 each. The share sale raised $200 million, while Robinhood’s initial capital brought the fund’s total size to $225.5 million before sales charges and offering expenses. RVII began trading on the NYSE at $22.50, placing its opening price $2.50 below the IPO level. The shares give U.S. investors an exchange-traded route into a managed collection of private businesses, although shar...