TechFlow News, March 7: According to TechCrunch, Robinhood’s newly launched listed fund, Robinhood Ventures Fund I, began trading on the New York Stock Exchange (NYSE) this week. However, it closed its first day at $21, down 16%. Designed to provide retail investors access to investments in high-profile private companies, the fund has a target raise of $1 billion but has so far secured only $658.4 million (or up to $705.7 million if underwriters exercise their full over-allotment option).
The fund’s portfolio includes companies such as Databricks, Stripe, Mercor, Oura, Ramp, Airwallex, and Revolut. Notably absent are widely anticipated, high-valuation pre-IPO companies—such as OpenAI, Anthropic, and SpaceX—whose inclusion was expected to drive strong retail investor interest; this omission is considered a primary reason for tepid retail demand. Robinhood stated that it plans to expand the fund’s holdings to 15–20 high-quality late-stage growth companies and is actively pursuing opportunities to gain equity exposure to top startups like OpenAI.
