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Robinhood launched a publicly traded closed-end venture fund giving retail investors exposure to private companies like Databricks, Revolut and Oura, aiming to broaden access to private markets traditionally limited to wealthy investors.
The fund is a publicly traded venture capital vehicle that allows traders to invest in a group of private companies like software company Databricks, fintech firm Revolut and health-tracking ringmaker Oura. You don’t need to be a Robinhood customer to buy shares of the fund. Chief Financial Officer Shiv Verma said the closed-end fund has “one” in the name for a reason—the plan is to launch more. The goal, Robinhood executives say, is democratizing private-market access in a way similar to how the company helped mint a new generation of stock investors in the wake of the pandemic.
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