NEW YORK — History was made on the New York Stock Exchange this Friday as the Robinhood Ventures Fund I (RVI) officially began trading. The closed-end fund priced its initial public offering at $25.00 per share, establishing a total fund size of $658.4 million. This could rise to over $705 million if underwriters exercise their full options.

RVI represents a shift in the democratization of finance. Historically, high-growth private tech companies (unicorns) were the exclusive playground of venture capitalists and "accredited" wealthy individuals. Through RVI, any retail investor with a brokerage account can now gain exposure to a concentrated portfolio of private firms, including the UK-based fintech giant Revolut and data-software leader Databricks. While the fund saw an 11% dip on its opening day amid broad market volatility, analysts view it as a landmark vehicle for long-term retail participation in the private markets.

Source: Stock Titan - Robinhood Ventures Fund I (RVI) Announces Pricing of IPO