Robinhood Ventures Fund II begins NYSE trading, opens VC to retail
In brief
- Robinhood Ventures Fund II (RVII) launched on NYSE August 13 with $225.5 million raised
- Fund holds 80 private company stakes with daily liquidity and no accreditation requirement
- Charges 2% base fee and 20% incentive fee on gains
- Follows Fund I's $658.4 million raise; combined $900 million deployed to private markets
Democratizing Venture Access
Robinhood Ventures Fund II holds stakes in 80 private companies at launch, with a particular focus on startups that have come through Y Combinator. The structure strips away barriers that have long gatekept venture investing: no accreditation requirements and daily liquidity instead of the traditional multi-year lock-up. Investors can exit positions on any trading day.
The fee model mirrors venture capital convention. The fund charges a 2% base fee on net assets and a 20% incentive fee on realized capital gains. Goldman Sachs, J.P. Morgan, and Citigroup served as underwriters.
Building on Fund I's Success
This is Robinhood's second venture fund. Robinhood Ventures Fund I debuted in March 2026 and raised $658.4 million, concentrating on later-stage private investments including stakes in Databricks and OpenAI. Fund II targets earlier-stage companies, broadening retail exposure across the venture lifecycle.
Combined, the two funds have channeled nearly $900 million from retail investors into private markets—a scale that signals growing appetite for non-traditional investment vehicles among everyday traders.
