The online trading platform's Robinhood Ventures will open up its first fund, which has backed Databricks, Airwallex and Ramp, to public investors.
Online trading platform Robinhood is set to take its corporate venture fund public through an initial public offering expected to raise $1bn, in a bid to expand investment options for its customers.
The US-based company launched Robinhood Ventures in September last year, with a brief to open up startup investing to everyday retail investors. It disclosed plans at the time to float its debut fund, Robinhood Ventures Fund I (RVI), on the public markets and has now begun the roadshow process for the proposed IPO.
“Opening up private markets will resolve one of the greatest longstanding inequities in capital markets today, and we’re excited to bring these opportunities to all with Robinhood Ventures Fund I,” said Robinhood CEO Vlad Tenev when announcing the move yesterday.
Robinhood plans to issue 35 million shares in the fund and five million of its own shares on the New York Stock Exchange through the offering, at an expected price of $25 each. Investors will be able to request shares with no requirements for accreditation, no minimum investment and no performance fees.
The public markets structure of the fund also means investors will be able to buy or sell shares in it whenever they want, instead of having to wait years for a portion of returns from exits, the way they would if they were limited partners in a conventional VC fund. RVI is managed by Robinhood Ventures, which takes a management fee equating to 2% of the fund’s assets.
Robinhood Ventures is focusing primarily on late-stage deals. It was part of a $5bn series L round valuing AI data software producer Databricks at $134bn in December 2025, and its portfolio so far includes finance management software producers Airwallex and Ramp, AI hiring platform Mercor and supersonic aircraft developer Boom.
The fund has also agreed to an investment in Stripe, the online payment processor reportedly set to seek a $140bn valuation in a forthcoming tender offer. That deal is expected to formally close after the fund’s flotation.
In addition to its Robinhood Ventures activities, Robinhood itself makes strategic investments in startups off its balance sheet.
Recent deals include a $150m round for digital asset infrastructure provider Talos that closed last month, and a $250m round for grocery delivery service GoPuff, through a partnership allowing users to withdraw capital from their Robinhood accounts and get it delivered to their door.
