Overview
- Robinhood Ventures Fund II filed a Form N-2 with the SEC and launched a video roadshow on Monday, August 3, 2026, proposing up to 8 million shares at an expected $25 per share and an NYSE ticker of RVII.
- The offering would include up to 7.6 million shares sold by the fund and up to 400,000 shares sold by Robinhood Markets, with underwriters led by Goldman Sachs and joint bookrunners from Citigroup, J.P. Morgan, UBS and Wells Fargo.
- If fully subscribed the IPO could raise as much as $200 million and includes a 30-day option for underwriters to buy up to 1.2 million additional shares at the same price less fees.
- RVII is structured as a closed-end fund that elected business development company status, which means no redemption rights, possible use of leverage, illiquid private holdings, uncertain valuations, and a high risk of loss for investors.
- The fund targets early- and growth-stage private firms with a stated focus on current or former Y Combinator participants, and the registration is not yet effective so no shares can be sold until the SEC declares the filing effective and the expected request window closes on August 12.