Robinhood announces IPO of Robinhood Ventures Fund II (RVII) at $25 per share

Robinhood announced on August 3 the planned IPO of Robinhood Ventures Fund II, a business development company that invests in a diversified portfolio of early-stage private companies. The shares were expected at $25 and to list on the NYSE under RVII. Robinhood Financial customers could request IPO shares with no accreditation requirement and no investment minimum, and the registration statement was not yet effective when announced.

• Ticker RVII, expected on the NYSE; expected price $25 per share
• Business development company (closed-end fund) investing in early-stage private companies
• Portfolio of 80 private companies at the time of the announcement
• No accreditation requirement and no investment minimum for Robinhood Financial customers