Robinhood’s startup fund stumbles in NYSE debut
TechCrunch • • business
Key Points:
- Robinhood has launched Robinhood Ventures Fund I, allowing retail investors to invest in a portfolio of eight private startups, including Databricks, Stripe, and Revolut, with a fundraising target of $1 billion.
- The fund raised $658.4 million initially, potentially reaching $705.7 million, but its shares debuted at a 16% discount, closing at $21 compared to the $25 offering price, signaling lukewarm investor interest.
- In contrast, Destiny Tech100, a publicly traded fund with stakes in 100 venture-backed companies like SpaceX and OpenAI, saw its shares soar on debut and trade at a significant premium to its net asset value.
- The main reason for Robinhood Ventures Fund
