Overview
- RVI filed a Form N-2 to offer 40,000,000 shares at an expected $25 each, including 35,000,000 new shares, 5,000,000 from Robinhood Markets as a selling shareholder, and a 6,000,000-share over-allotment option, subject to SEC effectiveness.
- The fund plans to list on the NYSE under the ticker RVI, and Robinhood customers can request IPO shares now through the app, with media reporting trading is expected to begin on February 26.
- Initial holdings disclosed include Airwallex, Boom, Databricks, Mercor, Oura, Ramp, and Revolut, and Robinhood has an agreement to purchase shares of Stripe expected to close after the IPO.
- Investor terms include a 2.00% annual management fee (reduced to 1.00% for the first six months) with no performance fee, no accreditation requirements, no minimums, and daily trading once listed.
- The prospectus flags significant risks such as illiquidity and valuation uncertainty for private-company stakes, notes potential premiums or discounts to net asset value, and names Goldman Sachs as sole bookrunner.