Brokerage firm Robinhood has announced plans to create a closed-end fund for retail investors, providing access to venture investments.
Robinhood's Fund Plan
Robinhood has filed a Form N-2 with the US Securities and Exchange Commission to register shares of the Robinhood Ventures Fund I (RVI), which will be managed by its new subsidiary. If approved, RVI shares will be listed on the New York Stock Exchange.
Broadening Access for Retail Investors
The fund will focus on investments in companies 'at the frontiers of their respective industries,' although specific sectors were not named. Opening such investments to retail investors signifies a significant shift in access to early-stage private companies, which have traditionally been funded by venture capital firms and wealthy individual investors.
Trends in Venture Capital and Crypto Investments
Venture capital funding totaled $189.3 billion in the first half of 2025. While crypto funding remains a small segment, it reached $10 billion in the second quarter of 2025. Robinhood's proposed fund could offer an indirect way for retail investors to participate in asset classes they have largely been excluded from.
If realized, Robinhood's venture fund could change the dynamics of retail investors' participation in venture capital and crypto investments.
