Robinhood is pushing for the IPO of its second venture-style closed-end fund, RVII, which invests in private companies from Y Combinator. This fund is designed to allow individual investors to invest in early and growth-stage companies through the exchange. The roadshow will begin at 1 AM KST on the 4th, with CEO Vlad Tenev and CFO Shiv Bhandari participating. RVII submitted its Form N-2 registration statement on June 30, according to Eastern Time in the U.S. This fund is regulated as a Business Development Company (BDC) under the Investment Company Act of 1940 and invests in early and growth-stage private companies. Y Combinator does not sponsor or endorse RVII and is not responsible for the fund's management or performance. RVII is expected to be listed on the New York Stock Exchange under the symbol 'RVII'. Robinhood has set the public offering price for RVI at $25 per share and issued 12,615,608 shares. RVII primarily targets private startups related to Y Combinator, and it is unclear whether it directly invests in cryptocurrencies or tokens. Robinhood has warned that investing in RVII carries significant risk of loss.
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