Robinhood launched its enterprise capital fund Robinhood Ventures Fund I on the New York Inventory Change underneath the ticker “RVI,” with a dimension of $658.4 million. The automobile is designed to present retail traders entry to high-profile non-public know-how firms, a area traditionally reserved for institutional corporations and elite enterprise capital funds.
The fund trades as a closed-end fund and holds stakes in firms resembling Databricks, valued at $134 billion, fintech Ramp, valued at $32 billion as of November, and Revolut. Robinhood CFO Shiv Verma instructed Reuters that there’s “an enormous hole available in the market the place the retail buyer can not entry non-public property.” The providing was priced at $25 per share, with 12.6 million shares positioned, elevating barely lower than initially projected.
Regardless of the strategic significance of the launch, HOOD shares fell greater than 3% through the session, buying and selling at $77.91 towards a earlier shut of $80.56. The inventory is down 31.55% year-to-date, although it retains a acquire of 72.65% over the previous twelve months. Analysts set a value goal of $130 for the subsequent twelve months.
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