Robinhood Ventures Fund I (RVI) Announces Launch of Initial Public Offering

Rhea-AI Summary

Robinhood Ventures Fund I (RVI) launched the roadshow for its proposed initial public offering on Feb. 17, 2026. RVI filed a Form N-2 to offer 40,000,000 common shares at an expected price of $25 per share, with a 30-day 6,000,000-share overallotment option.

The offering includes 35,000,000 shares from RVI and 5,000,000 shares from Robinhood Markets as selling shareholder; RVI will not receive proceeds from the selling shareholder's shares. Shares are expected to list on NYSE under RVI. Goldman Sachs is sole bookrunner.

Positive

• 40,000,000 shares proposed in the IPO at an expected $25 per share
• Underwritten by Goldman Sachs as sole bookrunner
• 30-day overallotment option of 6,000,000 shares available

Negative

• 5,000,000 shares sold by Robinhood Markets; RVI receives no proceeds from those shares
• Registration statement not yet effective; securities cannot be sold until effectiveness
• Company warns investment is speculative with substantial risk of loss

Key Figures

IPO share count: 40,000,000 shares IPO price: $25 per share Primary shares: 35,000,000 shares +5 more

8 metrics

IPO share count 40,000,000 shares Common shares of beneficial interest offered in RVI IPO

IPO price $25 per share Expected initial public offering price for RVI

Primary shares 35,000,000 shares RVI common shares offered by the fund itself

Secondary shares 5,000,000 shares RVI common shares offered by Robinhood Markets, Inc.

Underwriter option 6,000,000 shares 30-day option for additional RVI common shares

IPO listing venue NYSE Expected listing for RVI under symbol RVI

Price move pre-news 6.82% HOOD 24h price change before this IPO announcement

Current market cap $68,473,920,979 HOOD market capitalization prior to RVI IPO news

Market Reality Check

Price: $75.44 Vol: Volume 42,263,602 vs 20-d...

normal vol

$75.44 Last Close

Volume Volume 42,263,602 vs 20-day average 36,693,761 (relative volume 1.15), indicating elevated interest ahead of the IPO-related news. normal

Technical Shares at $75.97, trading below the 200-day MA of $105.81 and about 50.62% under the 52-week high of $153.86, but up 156.14% from the 52-week low of $29.66.

Peers on Argus

HOOD gained 6.82% with elevated volume, while key peers showed mixed, more modes...

HOOD gained 6.82% with elevated volume, while key peers showed mixed, more modest moves: IBKR +2.4%, LPLA +1.42%, FUTU +0.1%, SCHW -0.36%, TW -2.58%, suggesting a stock-specific reaction to the RVI IPO news rather than a sector-wide shift.

Historical Context

5 past events · Latest: Feb 10 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 10	Earnings results	Positive	-1.1%	Record 2025 revenues and EPS with strong deposit and customer growth.
Jan 21	Strategic partnership	Positive	+0.1%	Completion of 90% MIAXdx purchase via joint venture with Susquehanna.
Jan 02	Earnings date set	Neutral	+1.9%	Announcement of schedule for Q4 and full-year 2025 earnings release.
Dec 10	Operating metrics	Neutral	-0.0%	Mixed November 2025 KPIs with strong year-over-year customer and asset gains.
Nov 25	Strategic partnership	Positive	+0.5%	Agreement to acquire 90% of MIAXdx, expanding into derivatives and prediction markets.

Pattern Detected

Recent major earnings and strategic partnership announcements often saw modest or even negative next-day moves, indicating a history of muted or contrarian reactions to otherwise positive news.

Recent Company History

Over the past several months, Robinhood reported record 2025 results on Feb 10, 2026, with strong revenue and earnings but a slightly negative -1.11% next-day move. Two MIAXdx partnership milestones on Nov 25, 2025 and Jan 21, 2026 produced small positive reactions. Operating metrics for November 2025 showed mixed trends with virtually flat price impact. Today’s IPO-related announcement for Robinhood Ventures Fund I (RVI) comes after this stretch of strong fundamental updates and incremental strategic deals.

Market Pulse Summary

This announcement details the planned IPO of Robinhood Ventures Fund I (RVI), including 40,000,000 c...

Analysis

This announcement details the planned IPO of Robinhood Ventures Fund I (RVI), including 40,000,000 common shares of beneficial interest at an expected price of $25 per share and a 6,000,000-share underwriter option. For HOOD, it highlights continued product expansion around the core brokerage franchise. In evaluating this news, investors might track actual IPO execution, demand for RVI on the NYSE, and how fund economics interact with Robinhood’s already strong 2025 financial performance and capital allocation priorities.

Key Terms

initial public offering, form n-2, registration statement, u.s. securities and exchange commission, +3 more

7 terms

initial public offering financial

"launch of the roadshow for its initial public offering of common shares"

An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.

form n-2 regulatory

"RVI has filed a registration statement on Form N-2 with the U.S. SEC"

Form N-2 is a U.S. Securities and Exchange Commission filing that investment companies use to register and describe closed-end funds and certain management companies for public investors. It lays out the fund’s purpose, fees, risks, portfolio policies and management team—like a detailed product label for a financial product—so investors can compare offerings, understand costs and risks, and make informed decisions before buying shares.

registration statement regulatory

"RVI has filed a registration statement on Form N-2 with the U.S. SEC"

A registration statement is a formal document that companies file with a government agency to offer new shares of stock to the public. It provides essential information about the company's finances, operations, and risks, helping investors make informed decisions. Think of it as a detailed product description that ensures transparency and trust before buying into a company.

u.s. securities and exchange commission regulatory

"Form N-2 with the U.S. Securities and Exchange Commission to offer"

The U.S. Securities and Exchange Commission is a government agency responsible for overseeing the stock market and protecting investors. It sets rules to ensure that companies share truthful information and that trading is fair, helping to maintain trust in the financial system. This oversight is important because it helps prevent fraud and ensures that investors can make informed decisions.

new york stock exchange financial

"shares are expected to be listed on the New York Stock Exchange (NYSE)"

The New York Stock Exchange is a marketplace where people buy and sell shares of publicly traded companies. It functions like a busy trading hub, helping investors transfer ownership of company parts and providing a way to gauge how well businesses are doing. Its role is vital because it offers liquidity and transparency, making it easier for investors to buy and sell investments confidently.

underwriter financial

"RVI intends to grant the underwriter a 30-day option to purchase"

An underwriter is a financial firm that evaluates, guarantees and helps sell a new security offering—such as a stock or bond—by buying the issue from the issuer and reselling it to investors or organizing the sale. Think of them as a bridge or safety net: they take on the risk, set the price, handle marketing and paperwork, and their work determines how much money a company can raise and how smoothly the offering reaches the market.

rule 134 regulatory

"This press release is being made pursuant to, and in accordance with, Rule 134"

Rule 134 is a U.S. securities regulation that lists small, factual items a company or underwriter may announce about a securities offering without creating a formal sales prospectus. Think of it like a brief fact sheet a seller can post in a shop window: it lets investors see basic details (name, offering size, price range, and how to get more information) while limiting premature promotional claims, which helps maintain fair and orderly markets.

AI-generated analysis. Not financial advice.

MENLO PARK, Calif., Feb. 17, 2026 (GLOBE NEWSWIRE) -- Today, Robinhood Ventures Fund I (RVI) is announcing the launch of the roadshow for its initial public offering of common shares of beneficial interest. RVI has filed a registration statement on Form N-2 with the U.S. Securities and Exchange Commission to offer 40,000,000 common shares of beneficial interest at an expected initial public offering price of $25 per share. The offering consists of 35,000,000 common shares of beneficial interest being offered by RVI and 5,000,000 common shares of beneficial interest being offered by Robinhood Markets, Inc. (the “Selling Shareholder”). In addition, RVI intends to grant the underwriter a 30-day option to purchase up to an additional 6,000,000 common shares of beneficial interest. RVI will not receive any of the proceeds from the sale of shares by the Selling Shareholder. The shares are expected to be listed on the New York Stock Exchange (NYSE) under the symbol RVI.

To learn more, join Robinhood Markets CEO Vlad Tenev, Robinhood Markets CFO Shiv Verma, and Robinhood Ventures Fund I (RVI) President Sarah Pinto today, Feb. 17 at 10 a.m. PT / 1 p.m. ET for a livestreamed presentation. The livestream will be available directly in the Robinhood app, X, and on YouTube.

Goldman Sachs & Co. LLC is acting as sole bookrunner for the proposed offering.

A registration statement relating to the proposed sale of common shares of beneficial interest of Robinhood Ventures Fund I has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release is being made pursuant to, and in accordance with, Rule 134 under the Securities Act of 1933, as amended, and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The proposed offering of common shares of beneficial interest of RVI will be made only by means of a prospectus forming part of the registration statement. Copies of the preliminary prospectus related to the proposed offering may be obtained by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, or by emailing prospectus-ny@ny.email.gs.com; or from RVI by emailing corporate-legal-group@robinhood.com. Investors are advised to carefully consider the investment objectives, risks and charges and expenses of RVI before investing. The prospectus, which will contain this and other information about RVI, should be read carefully before investing.

Disclosures:

An investment in the Fund is speculative and involves a high degree of risk with substantial risk of loss.

Robinhood Ventures is the investment adviser for RVI. Robinhood Ventures is the dba name for Robinhood Ventures DE, LLC. Robinhood Ventures is an SEC-registered investment adviser and a wholly owned subsidiary of Robinhood Markets, Inc.

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Contacts
Investor Relations: ir@robinhood.com
Press: press@robinhood.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b5b0f75-2bd0-4796-bc7f-16ac78238ac5

FAQ

How many shares and at what price is Robinhood Ventures Fund I (RVI) proposing to offer in the Feb. 17, 2026 IPO?

RVI is proposing to offer 40,000,000 shares at an expected $25 per share. According to Robinhood Ventures Fund I, the offering includes a 30-day overallotment option of 6,000,000 additional shares.

Will Robinhood Ventures Fund I (RVI) receive proceeds from all shares in the proposed IPO?

No; RVI will not receive proceeds from the 5,000,000 shares offered by Robinhood Markets. According to Robinhood Ventures Fund I, 35,000,000 shares are being offered by the fund and 5,000,000 by the selling shareholder.

On which exchange and under what ticker does Robinhood Ventures Fund I (RVI) expect to list following the IPO?

RVI expects to list on the New York Stock Exchange under the ticker RVI. According to Robinhood Ventures Fund I, the shares are expected to be listed on NYSE under that symbol pending registration effectiveness.

Who is the lead underwriter for the Robinhood Ventures Fund I (RVI) IPO and how can investors get the prospectus?

Goldman Sachs is acting as sole bookrunner for the proposed offering. According to Robinhood Ventures Fund I, investors may obtain the preliminary prospectus from Goldman Sachs or by emailing corporate-legal-group@robinhood.com.

What risks did Robinhood Ventures Fund I (RVI) highlight about investing in the proposed IPO dated Feb. 17, 2026?

The company cautioned that an investment in the fund is speculative and involves a high degree of risk and possible substantial loss. According to Robinhood Ventures Fund I, investors should read the prospectus and consider objectives, risks, charges, and expenses carefully.