TechFlow, September 16 — According to Theblock, Robinhood plans to launch a publicly listed fund that will offer retail investors in the United States opportunities to invest in private companies.
The fund, named Robinhood Ventures Fund I, aims to break down long-standing barriers that have limited private company investments to wealthy individuals and institutions. Robinhood CEO Vlad Tenev said: "For decades, the wealthy and institutions have invested in private companies, while retail investors have been unfairly excluded. With Robinhood Ventures, everyday people will be able to access opportunities once reserved for the elite."
The company has filed an initial registration statement with the U.S. Securities and Exchange Commission to register the public offering of shares in the new fund. The fund is expected to trade on the New York Stock Exchange under the ticker symbol RVI, will hold investments long-term through initial public offerings and beyond, and seeks to invest across multiple industries.
