Robinhood Plans Fund Expanding Retail Access Private Markets

Robinhood Markets Inc. is launching Robinhood Ventures Fund I (RVI), a closed-end fund designed to give retail investors exposure to private companies before they go public, a market segment traditionally accessible only to wealthy individuals and institutions. The fund, managed by Robinhood Ventures DE, LLC, a new wholly owned subsidiary, aims to invest in a concentrated portfolio of high-growth private companies across multiple sectors, holding investments long-term through IPOs and beyond. This initiative responds to the shrinking number of publicly listed U.S. companies, which has declined from about 7,000 in 2000 to roughly 4,000 in 2024, while the private market's estimated value exceeds $10 trillion. Shares of RVI are expected to be listed on the New York Stock Exchange under the ticker symbol RVI, pending SEC approval, allowing investors to trade shares through brokerages, including Robinhood Financial LLC. Robinhood's CEO Vlad Tenev emphasized that this fund aims to democratize access to private market investments, which have historically favored the wealthy elite. The move follows Robinhood's earlier introduction of private tokenized stocks in the European Union, extending a similar model to the U.S. market.