Introducing Robinhood Ventures Fund II (RVII)

Official Robinhood newsroom — Aug 3, 2026 (share request window); expected IPO Aug 13 NYSE ticker RVII at $25/share.

Structure

• Business development company (BDC) / closed-end fund
• Holds 80 private companies today; focus on current/former Y Combinator participants or founders
• No accreditation requirements; expected daily liquidity via NYSE listing
• Fee: 2% annual base management fee on net assets + 20% incentive fee on realized capital gains (carry-style)
• Up to ~8M shares; request window closes Aug 12
• Y Combinator does NOT sponsor/endorse/promote the fund (trademark used with permission)

Context

Median time to IPO 5 years (1999) → 14 years (2024). Distinct from tokenized private-company crypto products: RVII buys/holds actual private company interests via fund shares.