Robinhood Takes Venture Capital Public With New Fund IPO - Robinhood Markets (NASDAQ:HOOD)

Group 1 - Robinhood Markets Inc. is launching its venture fund, Robinhood Ventures Fund I, with an initial public offering priced at $25.00 per share, aiming to raise a total of $658.4 million [1][2] - The fund is a closed-end fund that provides retail investors access to a concentrated portfolio of private companies, which has typically been available only to institutional investors [2] - The offering consists of 12,615,608 common shares, all offered directly by RVI [2] Group 2 - The fund has granted its underwriter a 30-day overallotment option for up to 1,892,341 additional common shares, potentially increasing the total fund size to $705.7 million if fully exercised [3] - The offering is expected to close on March 9, subject to customary closing conditions [3] - At the time of publication, Robinhood Markets shares were down 4.01% at $77.33 [4]