Robinhood Launches $200 Million RVII Fund, Focusing on Y Combinator Seed-Stage Startups

TechFlow news, August 5, according to Tech Funding News, Robinhood announced filing an IPO application for its second venture capital fund, Robinhood Ventures Fund II (RVII), planning to raise up to $200 million, issuing 7.6 million shares, priced at $25 per share, expected to list on the New York Stock Exchange under the ticker symbol "RVII" on August 13. RVII will focus on investing in seed-stage startups founded by Y Combinator incubatees or alumni, and currently holds equity in 80 private companies.

Unlike the first fund (RVI), RVII charges a 2% annual management fee and a 20% performance incentive fee, with a combined annual fee rate of approximately 4.18%. Robinhood itself classifies the fund as a "speculative" product and does not provide shareholder redemption rights. Goldman Sachs serves as the lead underwriter, with Citigroup, JPMorgan Chase, UBS, and Wells Fargo as co-underwriters; the subscription window will close on August 12.