Robinhood Markets has unveiled Robinhood Ventures Fund I (RVI), a closed-end investment vehicle that aims to give retail investors access to private companies traditionally reserved for institutions and accredited participants.
The fund is expected to list on the New York Stock Exchange in the coming weeks under the ticker RVI, priced at about $25 per share.
The fund will hold stakes in a concentrated portfolio including Airwallex, Boom, Databricks, Mercor, Oura, Ramp and Revolut, with additional holdings to follow. Robinhood said it has also agreed to purchase shares in Stripe, with that transaction expected to settle after the IPO.
Chief executive Vlad Tenev said the move was intended to broaden access to markets that have remained largely closed off to everyday investors.
“Opening up private markets will resolve one of the greatest longstanding inequities in capital markets today,” he said.
RVI will charge a 2 percent annual management fee, reduced to 1 percent for its first six months as a listed fund. It will not levy a performance fee and will offer daily liquidity once trading begins.
Robinhood highlighted the shrinking universe of U.S. public companies, down from about 7,000 in 2000 to roughly 4,000 in 2024, and the growth of private-market valuations, which the firm said exceed $10 trillion.
The company positioned the fund as a way for retail investors to participate in that shift, with share requests now open through Robinhood’s IPO Access platform.
