Vlad Tenev, chairman and CEO of Robinhood Markets, rings the Opening Bell with Robinhood Ventures Fund I on the New York Inventory Change on March 6, 2026.
NYSE
Robinhood’s Enterprise Fund I plunged 11% in its public market debut on the New York Inventory Change on Friday, casting doubt on buyers’ urge for food for riskier funding amid swirling geopolitical tensions.
The fund, which trades underneath the ticker RVI, presents publicity to notable non-public firms similar to monetary providers agency Revolut and software program firm Databricks. It goals to democratize entry to an space of capital markets that has usually been off-limits to retail buyers, Robinhood CEO Vlad Tenev instructed CNBC’s “Squawk on the Avenue” on Friday.
“You have got firms which are on the market at valuations within the lots of of billions, even moving into the trillions in non-public markets earlier than retail buyers get an opportunity to return in in any respect, and that is taking place increasingly more,” Tenev mentioned. “We’re making an attempt to unravel this by not simply opening the door to non-public markets however utterly blowing them off the hinges in order that they will by no means be closed.”
Retail buyers should buy and promote shares of the closed-end fund, which is structured like an funding agency, very similar to they’d shares of a conventional firm.
Nevertheless, the launch comes throughout a troublesome time for public markets. The key U.S. inventory averages are on tempo for weekly declines as merchants promote equities on fears the U.S.-Iran battle might proceed longer than anticipated.
Robinhood Ventures Fund priced its preliminary public providing at $25 per share. It opened at $22 and hit a low of $21 earlier than buying and selling again round $22.12.
RVI closed Friday at $21 per share.
