Robinhood's venture fund drops 16% on NYSE debut
Robinhood Ventures Fund I (RVI) began trading on the NYSE on Friday, March 6, 2026, and the offering was structured for 40 million shares at $25 each, but the fund raised $658.4 million (which could reach $705.7 million if the underwriter exercises its full overallotment).
But the excitement fizzled fast. Shares opened lower and closed the day at $21.00, a 16% decline from the $25 IPO price.
Fund's focus on late-stage private companies
RVI is a closed-end fund designed to let everyday investors buy into late-stage private companies—no accreditation or big minimums needed.
The fund charges a 2% annual management fee (cut to 1% for the first six months) and holds names like Databricks, Stripe (pending), Airwallex, Ramp, Mercor, Oura, Revolut, and Boom.
Comparison with Destiny Tech100
Unlike Destiny Tech100, which wowed with an 86% jump on its March 2024 debut thanks to buzzy picks like SpaceX and OpenAI—RVI's lineup didn't spark the same hype.
Destiny Tech100 now trades well above its net asset value; RVI's more low-key portfolio may be why it hasn't seen similar buzz.