Robinhood Launches Subscription Request for $25 RVII Shares

Robinhood has initiated the subscription request for its second venture fund, the Robinhood Ventures Fund II (RVII). The expected price is $25 per share (approximately 36,000 KRW). Robinhood started the RVII roadshow at 1 AM KST on the 4th and unveiled the stock application process. RVII is a closed-end fund structured as a Business Development Company (BDC) and is set to be listed on the New York Stock Exchange (NYSE) under the ticker 'RVII'. The investment targets are early and growth-stage private companies, focusing on those that are currently or have previously participated in the Y Combinator program. According to a filing with the U.S. Securities and Exchange Commission (SEC), RVII submitted its Form N-2 registration statement at 6:52 AM KST on July 1. RVII is a Delaware statutory trust and is regulated as a BDC under the Investment Company Act of 1940. RVII is a follow-on product to the Robinhood Ventures Fund I (RVI), which was listed in March. As of June 30, RVI's net asset value (NAV) was $25.02 (approximately 36,000 KRW). This product emerged as Robinhood expands its business scope into the private market. Investments in RVII are speculative and carry significant risk of loss. RVII shares cannot be sold or purchased until the effectiveness of the SEC registration statement.