Robinhood has launched marketing for its second publicly traded closed-end fund, Robinhood Ventures Fund II (RVII), targeting a $200 million raise. The fund, structured as a Business Development Company (BDC), plans to offer up to 8 million shares at $25 each, with an IPO expected to price after market close on August 12. The fee structure follows a classic venture capital model: 2% management fee plus 20% performance incentive fee. The fund excludes crypto assets and tokens from its portfolio, diverging from Robinhood’s usual crypto trading activities. Shares are expected to trade on the NYSE under the ticker RVII, initially holding more than 80 private companies with a focus on Y Combinator-backed startups.
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