Robinhood files $200M second venture fund focused on YC startups
Robinhood has filed to raise up to $200 million for its second publicly listed venture fund, offering retail investors access to seed-stage startups while introducing performance fees that were absent from its first fund. SummaryRobinhood has filed to raise up to $200 million for its second public venture fund focused on seed stage startups.The new fund introduces a 2% management fee and a 20% performance fee, unlike Robinhoods first venture fund.RVII will invest mainly in companies linked to Y Combinator and is expected to begin trading on the NYSE on Aug. 13.The launch extends Robinhoods effort to expand beyond crypto trading and public markets into private company investing. According to regulatory filings reviewed by multiple publications, Robinhood Ventures Fund II (RVII) plans to offer 7.6 million shares at $25 each, while Robinhood will separately sell another 400,000 shares. The fund is expected to begin trading on the New York Stock Exchange under the ticker RVII on Aug. 13, subject to regulatory approval. Goldman Sachs is serving as the lead bookrunner for the RVII offering, while Citigroup, JPMorgan, UBS and Wells Fargo are acting as joint bookrunners. According to the filing, the subscription window is scheduled to close on Aug. 12, one day before