Robinhood Ventures Fund II (RVII) Announces Launch of Initial Public Offering

Rhea-AI Summary

Robinhood Ventures Fund II (RVII) has launched the roadshow for its proposed initial public offering of up to 8,000,000 common shares of beneficial interest at an expected price of $25 per share. Up to 7,600,000 shares are offered by RVII and up to 400,000 by selling shareholder Robinhood Markets. RVII will not receive proceeds from the selling shareholder’s portion.

RVII also plans to grant underwriters a 30-day option to buy up to an additional 1,200,000 shares from RVII. The shares are expected to list on the NYSE under the symbol RVII. A video presentation is scheduled for August 3, and the registration statement on Form N-2 has been filed with the SEC but is not yet effective.

Positive

• Up to 8,000,000 shares offered at an expected $25 per share IPO price
• RVII may grant underwriters a 30-day option for 1,200,000 additional shares
• Shares are expected to list on the NYSE under the symbol RVII
• Participation of major underwriters including Goldman Sachs, Citigroup, J.P. Morgan, UBS, and Wells Fargo

Negative

• Primary issuance of up to 7,600,000 new RVII shares could expand the share count

Market Context

-2.5% was the average 24-hour move across two IPO/offering-tagged events. That record frames the RVI...

Analysis

-2.5% was the average 24-hour move across two IPO/offering-tagged events. That record frames the RVII launch against prior offerings, while Net Selling insider activity and low short positioning provide relevant risk context.

Key Figures

Common shares offered: Up to 8,000,000 shares Expected IPO price: $25 per share RVII shares offered: Up to 7,600,000 shares +4 more

7 metrics

Common shares offered Up to 8,000,000 shares Expected initial public offering

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

RVII shares offered Up to 7,600,000 shares Shares offered by RVII

Selling shareholder shares Up to 400,000 shares Shares offered by Robinhood Markets

Share request deadline August 12 Expected close of IPO share request window

Underwriter option period 30 days Option granted to underwriters

Additional shares option Up to 1,200,000 shares Additional shares purchasable from RVII

Previous IPO,offering Reports

2 past events · Latest: Mar 06 (Negative)

Same Type Pattern 2 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 06	IPO pricing	Negative	-4.3%	Fund I priced 12,615,608 shares at $25.00, followed by a -4.31% reaction.
Feb 17	IPO launch	Negative	-0.7%	Fund I launched its roadshow with a 40,000,000-share proposed offering.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Both prior IPO/offering-tagged events were followed by negative 24-hour price reactions, averaging -2.5%.

Key Terms

roadshow, form n-2, selling shareholder, rule 134

4 terms

roadshow financial

"announcing the launch of the roadshow for its initial public offering"

A roadshow is a series of presentations and meetings where a company's executives travel to meet potential investors and explain the business, strategy, and financial outlook before a stock offering or major fundraising. It matters to investors because it gives direct access to management’s plans and tone, helps gauge demand and pricing for the shares, and can reveal confidence or concerns that affect how much and at what price people are willing to invest—like watching a product demo before deciding to buy.

View in glossary

form n-2 regulatory

"filed a registration statement on Form N-2 with the U.S. Securities"

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.

selling shareholder financial

"being offered by Robinhood Markets, Inc. (the “Selling Shareholder”)"

An existing owner of a company's shares who is offering part or all of their holdings for sale, often through a registered secondary offering, block trade, or insider sale. It matters to investors because these sales increase the number of shares available to the public and can change who controls the company; like a large homeowner selling in a neighborhood, a big shareholder sale can alter supply, price dynamics, and ownership concentration.

rule 134 regulatory

"pursuant to, and in accordance with, Rule 134 under the Securities Act"

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. How Rhea-AI works. Not financial advice.

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MENLO PARK, Calif., Aug. 03, 2026 (GLOBE NEWSWIRE) -- Today, Robinhood Ventures Fund II (RVII) is announcing the launch of the roadshow for its initial public offering of common shares of beneficial interest. RVII has filed a registration statement on Form N-2 with the U.S. Securities and Exchange Commission to offer up to 8,000,000 common shares of beneficial interest at an expected initial public offering price of $25 per share. The offering consists of up to 7,600,000 common shares of beneficial interest being offered by RVII and up to 400,000 common shares of beneficial interest being offered by Robinhood Markets, Inc. (the “Selling Shareholder”). The window to request IPO shares is expected to close on August 12. RVII will not receive any of the proceeds from the sale of shares by the Selling Shareholder. 

In addition, RVII intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common shares of beneficial interest from RVII at the same price as the initial offering price, less underwriting discounts and commissions. The shares are expected to be listed on the New York Stock Exchange (NYSE) under the symbol RVII.

Later today, August 3 at 9 a.m. PT / 12 p.m. ET, RVII will share a video presentation with more information about RVII, with appearances from Robinhood Markets CEO, Vlad Tenev, Robinhood Markets CFO, Shiv Verma, the Head of Robinhood Ventures and President of RVII, Sarah Pinto, and RVII Portfolio Manager, Rich Aberman. The video will be available directly in the Robinhood app and on Robinhood’s YouTube.

Goldman Sachs & Co. LLC is the lead bookrunner for the proposed offering. Citigroup, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities are joint bookrunners for the proposed offering.

A registration statement relating to the proposed sale of common shares of beneficial interest of Robinhood Ventures Fund II 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 by Robinhood Ventures Fund II (“RVII”) will be made only by means of a prospectus, which forms part of the registration statement. Copies of the registration statement and the preliminary prospectus included therein relating to the proposed offering may be obtained for free by visiting the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, copies of the prospectus, when available, 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; J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Citigroup, ℅ Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel:800-831-9146); Wells Fargo Securities LLC, 608 2nd Avenue South, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@wellsfargo.com; or UBS Securities LLC, Attention: Equity Syndicate, 11 Madison Avenue, New York, NY 10010, by telephone at (888) 827-7275, or by email at ol-prospectus-request@ubs.com.

Disclosures:

Cautionary Note Regarding Forward-Looking Statements

This communication includes "forward looking statements," including with respect to RVII's proposed initial public offering (the "IPO") of common shares of beneficial interest, the filing and effectiveness of the registration statement on Form N-2, the expected timing of the IPO, the anticipated public offering price of $25 per share, the size and terms of the offering, including the shares to be sold by RVII and by the Selling Shareholder, the expected closing of the window to request IPO shares on August 12, 2026, the underwriters' option to purchase additional common shares of beneficial interest, and the expected listing of RVII's shares on the New York Stock Exchange under the symbol "RVII." You can sometimes identify forward-looking statements through the use of words or phrases such as "will," "expects," "expected," "anticipates," "anticipated," "aims," "goal," "mission," "intends," "intended," "believes," "plans," "estimates," "potential," "future," "may," "could," or "should," the negative of these terms, or similar words and expressions of the future. Forward-looking statements involve known and unknown risks, uncertainties and assumptions, including the risks outlined under "Risks" in the preliminary prospectus and elsewhere in RVII's filings with the SEC, which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement. RVII and Robinhood have no obligation, and do not undertake any obligation, to update or revise any forward-looking statement made in this communication to reflect changes since the date of this communication, except as required by law.

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

RVII is a newly organized, closed‑end, diversified management fund that has elected to be regulated as a business development company, investing in a concentrated portfolio of private “Promising Companies.” This investment strategy entails limited information, illiquidity, valuation uncertainty, and risk of loss; shares and the value of RVII’s Net Assets may be volatile and the shares may trade at a discount or premium, and exposures may be via illiquid private vehicles with capital calls and extra fees. RVII may use leverage, has limited operating history, and does not anticipate that it will pay dividends on a quarterly basis or become a predictable distributor of dividends, all of which can reduce or delay returns.

A “Promising Company” means early-stage and growth-stage private companies that, in the view of Robinhood Ventures, demonstrate significant growth potential.

Closed-end funds differ from open-end funds in that closed-end funds do not redeem their shares at the request of an investor. No shareholder has the right to require RVII to redeem his, her or its shares. While RVII’s shares are expected to be listed on an exchange, an active public market for the shares may not develop. As a result, shareholders may not be able to liquidate their investment. Accordingly, shareholders should consider that they may not have access to the funds they invest in RVII for an indefinite period of time. There is no assurance that the private companies in which RVII invests will ever have a liquidity event.

Robinhood Ventures is the investment adviser for RVII. 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/3996552d-6798-448d-8a01-f28794b80be2

FAQ

What are the key terms of the Robinhood Ventures Fund II (RVII) IPO?

The RVII IPO plans to offer up to 8,000,000 shares at an expected price of $25 per share. According to Robinhood Ventures Fund II, 7,600,000 shares are from RVII and 400,000 from a selling shareholder, subject to SEC effectiveness.

What stock exchange will Robinhood Ventures Fund II trade on and under what symbol (RVII)?

Robinhood Ventures Fund II shares are expected to list on the New York Stock Exchange under the ticker symbol RVII. According to RVII, listing will occur after the registration statement becomes effective and the IPO is completed.

How many shares is Robinhood Ventures Fund II offering in its IPO and who is selling?

RVII is offering up to 7,600,000 shares, while selling shareholder Robinhood Markets offers up to 400,000 shares. According to RVII, it will not receive proceeds from the selling shareholder’s shares, only from its own primary issuance.

What is the expected IPO price for Robinhood Ventures Fund II (RVII) shares?

The expected initial public offering price for RVII shares is $25 per share. According to Robinhood Ventures Fund II, this price applies to up to 8,000,000 shares, before underwriting discounts, commissions, and any exercise of the underwriters’ option.

Does Robinhood Ventures Fund II have an over-allotment option for its IPO?

Yes. RVII intends to grant underwriters a 30-day option to purchase up to 1,200,000 additional shares. According to Robinhood Ventures Fund II, these would be sold by RVII at the IPO price, less underwriting discounts and commissions, if the option is exercised.

When does the Robinhood Ventures Fund II IPO roadshow and share request window take place?

The IPO roadshow launches on August 3, 2026, with the IPO share request window expected to close on August 12. According to RVII, a video presentation will also be released on August 3 at 9 a.m. PT / 12 p.m. ET.

How can investors access the prospectus for the Robinhood Ventures Fund II (RVII) IPO?

Investors can obtain the preliminary prospectus for RVII for free at www.sec.gov. According to Robinhood Ventures Fund II, copies may also be requested from Goldman Sachs and other listed underwriters via the provided mail, phone, or email contacts.