Robinhood launches second venture fund

Robinhood has announced the creation of its second venture fund, Robinhood Ventures Fund II (RVII). This new fund aims to invest in private companies during their early and growth stages. The company has confidentially filed a draft registration statement with the SEC, signaling its intention to eventually pursue a public offering for the fund's shares. This move indicates Robinhood's continued commitment to expanding its investment activities beyond its core retail brokerage platform and into the venture capital space, seeking promising early-stage opportunities.