Riding an AI rally, Robinhood preps second retail venture IPO

Robinhood has filed confidentially for RVII, a second retail venture fund after the strong debut of RVI.

RVII would let non-accredited investors gain exposure to private startups through a brokerage account, with daily liquidity and no performance carry.

The fund is expected to invest across both growth-stage and early-stage companies, though fundraising targets have not yet been set.

The move extends Robinhood’s push to open private-market investing to ordinary investors and could channel more retail money into startups.