Robinhood's second publicly traded venture fund, Robinhood Ventures Fund II (NYSE:RVII), started trading on the New York Stock Exchange on Thursday.
The fund gives retail investors access to early-stage startups, a market traditionally out of reach for ordinary brokerage customers.
RVII raised $225.5 million in its initial public offering, pricing 8 million shares at $25 each, and already holds stakes in 80 private companies with more expected to be added.
The fund targets companies current or former Y Combinator participants, a startup accelerator that has backed more than 5,000 companies with a combined valuation exceeding $1.3 trillion.
Robinhood said the fund carries no accreditation requirements and no investment minimums, continuing its stated aim of lowering barriers to private-market investing.
RVII follows Robinhood Ventures Fund (RVI), which debuted on the NYSE in March as a roughly $658.4 million vehicle holding stakes in late-stage names including Databricks, Ramp and Revolut.
Where RVI focused on established, late-stage private companies, RVII shifts earlier, betting on startups still working through the accelerator pipeline.
The launch lands as private-market access for retail investors draws wider scrutiny, with Threadneedle Ventures founder Ann Berry cautioning that accessibility should not be confused with transparency, and private credit funds separately facing lawsuits over valuation and fee practices.
