Robinhood Markets (HOOD) debuted its $658.4 million flagship venture fund on the New York Stock Exchange. The fund trades under the ticker RVI and provides retail investors access to private technology companies including Databricks, Ramp, and Revolut. This launch advances Robinhood’s strategy to evolve from a trading app into a diversified financial services platform.
Robinhood shares fell more than 3% during the trading session. Broader market volatility and investor caution influenced the negative price action. The new fund aims to democratize access to private equity markets, which were previously difficult for the public to enter.