Robinhood introduces Robinhood Ventures

Robinhood (HOOD) on Monday announced that Robinhood Ventures Fund I has filed an initial registration statement on Form N-2 with the SEC to begin the process to register a public offering of its shares. “Managed by Robinhood Ventures DE, LLC, a newly formed wholly-owned subsidiary of Robinhood Markets, Inc., Robinhood Ventures Fund I is a closed-end fund that aims to offer retail investors exposure to companies at the frontiers of their industries, while they are still private,” the company said. “For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly locked out. With Robinhood Ventures, everyday people will be able to invest in opportunities once reserved for the elite,” said Robinhood Chairman and CEO Vlad Tenev. Similar to private tokenized stocks in the EU, Robinhood Ventures Fund I will serve as a vehicle for retail investors in the U.S. to participate in private markets and gain exposure to companies while they are still private, the company added, saying that the Robinhood Ventures Fund I investment program will focus on a concentrated portfolio of private companies at the frontiers of their respective industries. Robinhood Ventures Fund I plans to hold investments for the long-term through IPO and beyond, and will seek to invest across a number of sectors.