Databricks · OpenAI · Stripe · TechCrunch AI
Riding an AI rally, Robinhood preps second retail venture IPO
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Two months after listing its first venture fund on the stock market, Robinhood is preparing to launch a second.
Key facts
- RVI, the ticker for Robinhood’s first fund, which trades on the NYSE (New York Stock Exchange), debuted on the NYSE at $21 a share in early March and has since more than doubled, closing on Monday
- Under federal rules, only “accredited” investors, those with a net worth exceeding $1 million or annual income above $200,000, can put money into private companies
- No accreditation requirements and no carry,” Robinhood CEO Vlad Tenev said at The Wall Street Journal’s Future of Everything conference last week
- U nlike its first fund, which currently holds stakes in 10 late-stage companies, Airwallex, Boom, Databricks, ElevenLabs, Mercor, OpenAI, Oura, Ramp, Revolut, and Stripe, RVII will cast a wider net
Summary
U nlike its first fund, which currently holds stakes in 10 late-stage companies, Airwallex, Boom, Databricks, ElevenLabs, Mercor, OpenAI, Oura, Ramp, Revolut, and Stripe, RVII will cast a wider net, investing in growth-stage and early-stage startups. The fundraising target for RVII has not yet been set, the company said in a blog post. Despite the shortfall, the first fund has performed strongly. The premise behind both funds addresses a long-standing gap in who gets to invest in startups.