Robinhood launched its second private fund, Robinhood Ventures Fund II, on the New York Stock Exchange on August 13 under the ticker RVII, priced at $25 per share. The fund raised $225.5 million, with the potential to reach $255.5 million if underwriters exercise their option to purchase additional shares. Structured as a business development company (BDC), it holds stakes in 80 private companies with a particular focus on startups from Y Combinator. The fund stands out for its lack of accreditation requirements and daily liquidity, allowing retail investors to access early-stage companies without the lock-up constraints of traditional venture capital investments. Fees are set at 2% on net assets and 20% on realized gains.
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