Robinhood Launches Pre-IPO Fund for Retail Investors
Robinhood Markets Inc. is breaking down barriers for retail investors with the introduction of Robinhood Ventures Fund I (RVI), a closed-end fund designed to provide access to private companies before they go public. The fund, which has filed with the SEC, will trade on the NYSE under the ticker RVI and be available through brokerages including Robinhood Financial.
"For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly locked out," said Robinhood CEO Vlad Tenev. The MOVE marks a significant shift in democratizing access to early-stage investments in sectors like technology.