Overview
- Robinhood Ventures Fund I priced 12,615,608 shares at $25, raising $658.4 million with an option that could lift the total to $705.7 million.
- Shares began trading on March 6 under ticker RVI and fell about 11% intraday, opening at $22, touching $21, and lately changing hands near $22.
- The offering is expected to close on March 9 subject to customary conditions, with a 30-day overallotment granted to the underwriter.
- The fund holds stakes in prominent private companies including Databricks, Ramp, and Revolut, providing public-market access previously limited to accredited investors.
- Goldman Sachs served as sole bookrunner and the SEC declared the registration effective on March 5, as analysts highlighted risks tied to uncertain private valuations and a slow exit market.