Robinhood Ventures Fund II Prices $200M IPO at $25/Share, Lists on NYSE as RVII

summarizeSummary

Robinhood Ventures Fund II, a BDC investing in Y Combinator startups, priced its IPO at $25 per share, raising $200 million. Shares list on NYSE as RVII on August 14, 2026.

check_boxKey Events · Financing and Capital Events · RVII

• IPO Priced at $25/Share

  8,000,000 common shares offered at $25.00 per share, raising $200,000,000 gross proceeds. Underwriters have a 30-day option for 1,200,000 additional shares.

• Net Proceeds and Fees

  Sales load of $9,000,000 (4.50%) and estimated offering expenses of $5.9 million reduce net proceeds to approximately $185.1 million. Total annual expenses estimated at 4.08% of net assets.

• Listing on NYSE

  Shares approved for listing on NYSE under symbol 'RVII', subject to official notice of issuance. Trading expected to commence August 14, 2026.

• Robinhood Ownership Dilution

  Robinhood Markets, Inc. currently owns 87.27% directly and 100% beneficially. After the offering, ownership is expected to fall below 25%, ending Robinhood's control.

auto_awesomeAnalysis · RVII · Unknown

A newly formed BDC targeting Y Combinator startups, Robinhood Ventures Fund II, is going public at $25 per share, raising $200 million before a 4.5% sales load. The offering is priced at a premium to the company's last reported NAV of $23.32, reflecting strong demand for retail access to venture capital. However, the 4.5% sales load and estimated $5.9 million in offering expenses will immediately reduce NAV per share by roughly 7.5%, and the company's 2% base management fee plus 20% incentive fee on capital gains create a high expense structure. Robinhood's ownership will drop from 87% to below 25%, ending its control. The stock split on August 14 will adjust existing shares to 0.977 per share to align NAV plus sales load with the $25 IPO price.