Robinhood sets up Ventures Fund I to open private markets to retail

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Key Takeaways

Robinhood wants to open up private equity–style investing to retail traders via a listed closed-end fund.
The fund follows Robinhood’s previous expansion into private tokenized stocks and plans to list RVI shares on the NYSE.

American fintech company Robinhood Markets has filed an initial registration statement with the SEC to launch Robinhood Ventures Fund I (RVI), a closed-end fund that targets investors seeking private market exposure, the company said Monday.

The fund will focus on investing in high-growth private companies across various industries. Once approved by the SEC, retail investors can purchase RVI shares to gain indirect access to those firms.

According to the company, the number of publicly traded companies in the US fell roughly 43% to around 4,000 between 2000 and 2024. Meanwhile, the estimated value of private firms grew to over $10 trillion.

With the move, Robinhood aims to bridge the gap created by declining public market listings and the growth of private companies that remain out of reach for everyday investors.

“For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly locked out,” said Robinhood Chairman and CEO Vlad Tenev. “With Robinhood Ventures, everyday people will be able to invest in opportunities once reserved for the elite.”

The fund follows Robinhood’s earlier expansion into private markets through its launch of private tokenized stocks in the EU.

RVI shares are planned to trade on the NYSE and will be available for purchase through brokerages, including Robinhood Financial LLC.