Robinhood seeks SEC approval for venture fund accessible to retail investors
The brokerage is seeking SEC approval for Robinhood Ventures Fund I, which would trade on the NYSE and expose retail investors to private companies.
Brokerage firm Robinhood is planning a closed-end fund that would give retail investors access to its venture capital portfolio — a space traditionally reserved for institutions and high-net-worth individuals.
The brokerage disclosed Monday that it has filed a Form N-2 with the US Securities and Exchange Commission (SEC) to register shares of the Robinhood Ventures Fund I (RVI), which will be managed by its new subsidiary, Robinhood Ventures DE.
If approved, shares of RVI will be listed on the New York Stock Exchange, where they can be bought and sold through participating brokerage platforms.