Robinhood Ventures Fund II (RVII) has confidentially submitted a draft registration statement to begin the process to register a public offering of its shares.
The number of shares to be offered and the size of the fund have not yet been determined, Robinhood said in a blog post.
RVII is expected to invest across a wider range of startups than its predecessor, (NASDAQ:RVI), which currently owns positions in 10 later-stage private companies: Airwallex, Boom, Databricks, ElevenLabs, Mercor, OpenAI, Oura, Ramp, Revolut, and Stripe.
Robinhood is pitching the structure as a way for non-wealthy investors to buy a basket of private startups through a standard brokerage account, sidestepping the usual “accredited investor” limitations tied to wealth and income thresholds, TechCrunch reported.
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