Robinhood Ventures Fund II launches IPO targeting early-stage private firms
RVII is a closed-end business development company that will provide retail investors with exposure to a diversified portfolio of early-stage private companies.
Robinhood Ventures Fund II will launch on the New York Stock Exchange after pricing its IPO at $25 a share.
The offering consists of 8 million common shares and gives RVII a fund size of $225.5 million, rising to as much as $255.5 million if the underwriters exercise their full option for another 1.2 million shares.
RVII is a business development company focused on providing retail investors with exposure to a diversified portfolio of private companies at early stages of development. The shares are expected to begin trading under the RVII ticker on Aug. 13, with the offering scheduled to close on Aug. 14.
Goldman Sachs is the lead bookrunner for the IPO, joined by Citigroup, JPMorgan, UBS Investment Bank and Wells Fargo Securities as joint bookrunners.