Robinhood Ventures Fund I filed a registration statement with the Securities and Exchange Commission to offer 40 million common shares of beneficial interest at an expected price of $25 per share, according to a company statement.
The offering consists of 35 million shares from RVI and 5 million shares from , the selling shareholder. RVI will grant underwriters a 30-day option to purchase up to 6 million additional shares. The fund will not receive proceeds from shares sold by the selling shareholder.
Goldman Sachs & Co. LLC serves as sole bookrunner for the proposed offering. The shares are expected to list on the New York Stock Exchange under the ticker RVI.
Robinhood Markets CEO Vlad Tenev, CFO Shiv Verma, and RVI President Sarah Pinto conducted a livestreamed presentation on February 17. The presentation was available through the Robinhood app, X, and YouTube.
Robinhood Ventures, a wholly owned subsidiary of Robinhood Markets and SEC-registered investment adviser, serves as the investment adviser for RVI.
The registration statement has been filed but not yet become effective. The securities cannot be sold until the registration statement becomes effective. The offering will be made only through a prospectus that forms part of the registration statement.
The company disclosed that investment in the fund involves speculation and high risk with substantial risk of loss.
