Robinhood Markets launched the roadshow for the initial public offering of its second venture capital fund, Robinhood Ventures Fund II (RVII). The firm targets a total raise of $200 million. The offering includes 8 million shares. Robinhood expects a $25 share price. This move aims to democratize private company investments for retail customers.
The fund will invest in early and growth-stage private companies. It will list on the New York Stock Exchange under the ticker RVII. Goldman Sachs serves as the lead bookrunner among several major underwriters.
Cantor Fitzgerald analysts lowered their price target for Robinhood stock to $115. These analysts previously set a $130 target. They maintained an overweight rating on the company.