Robinhood's second venture fund debuts, drawing retail money into private markets

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โดย Reuters·US·Read original
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Robinhood's second venture fund debuted on Thursday, giving retail investors access to early-stage startups that have traditionally been out of reach for all but venture capital firms and wealthy investors. The fintech company raised $225.5 million in the initial public offering of Robinhood Ventures Fund II, which will invest in early- and growth-stage private companies. The fund will focus on current and former participants in the Y Combinator startup accelerator program, which has financed over 5,000 companies with a combined valuation of more than $1.3 trillion, including crypto exchange Coinbase, social media platform Reddit and ChatGPT maker OpenAI. RVII listed on the New York Stock Exchange after pricing 8 million shares at $25 apiece, while Robinhood listed its first fund in March, which focuses on late-stage startups. Rich Aberman, RVII portfolio manager, told Reuters that this is one of the more interesting things happening in venture at the moment and hopefully benefits everyday Americans and retail investors who have historically been totally on the outside of Silicon Valley wealth generation.

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