Robinhood opened the order window on July 15 for Robinhood Ventures Fund II, a closed-end fund giving retail investors exposure to seed-stage startups from the Y Combinator ecosystem, at an expected price of $25 per share. The fund, structured as a business development company (BDC) and listed on the NYSE under the ticker RVII starting August 13, aims to raise approximately $200 million through the issuance of 8 million shares. It will hold 80 private companies at launch. Annual expenses total 4.18% and Robinhood has warned the investment is speculative with a substantial risk of loss and no redemption rights.
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