Robinhood Launches Fund for Private Company Access

Group 1 - Robinhood Markets Inc. is launching a closed-end fund named Robinhood Ventures Fund I to provide US retail investors access to private companies [1][2] - The fund aims to address the issue of retail investors being excluded from investing in private companies, which has traditionally been accessible only to wealthy individuals and institutions [2] - The new fund will focus on a concentrated portfolio of private companies at the forefront of their industries, pending SEC approval for trading under the symbol RVI on the New York Stock Exchange [3] Group 2 - The initiative reflects Robinhood's recent efforts to enhance retail investors' access to private equity, including previous offerings of tokenized equities in Europe [2] - The CEO of Robinhood emphasized the importance of democratizing investment opportunities that were previously reserved for elite investors [2] - The fund will be available to retail investors through brokerages, including Robinhood and its competitors [3]