For years, enterprise buyers have scouted potential investments within the graduating lessons of Y Combinator within the hope of backing the following Stripe, Airbnb and DoorDash. Robinhood is now pitching this playbook to particular person buyers, with a brand new fund to spend money on early-stage startups that take part within the accelerator.
On Thursday, Robinhood’s closed-end fund, which trades below the ticker RVII, went public on the New York Inventory Change after elevating $225.5 million. It’s the second startup-backing fund that the monetary app has launched this yr—and it gained’t be the final of its form. These funds’ efficiency will make clear whether or not efforts to provide particular person buyers entry to non-public firms will succeed the place others stumbled.
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