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

Robinhood Ventures Fund II (RVII) priced its initial public offering of 8,000,000 common shares of beneficial interest at $25.00 per share, implying an initial fund size of $225.5 million before sales load and offering expenses.

Rhea-AI Summary

Robinhood Ventures Fund II (RVII) priced its initial public offering of 8,000,000 common shares of beneficial interest at $25.00 per share, implying an initial fund size of $225.5 million before sales load and offering expenses.

According to Robinhood Ventures Fund II, underwriters have a 30-day option to purchase up to 1,200,000 additional shares, which could increase the fund size to $255.5 million. The shares are expected to begin trading on the NYSE on August 13, 2026 under the symbol RVII, with closing anticipated on August 14, 2026, subject to customary conditions. RVII is a business development company (BDC) offering retail investors exposure to a diversified portfolio of early-stage private companies, with Robinhood Ventures acting as investment adviser.

Positive

• IPO size $225.5 million before expenses, with potential to reach $255.5 million
• 8,000,000 shares priced at $25.00, listing on NYSE as RVII
• 1,200,000-share 30-day over-allotment option granted to underwriters
• Retail investors gain access to a BDC focused on early-stage private companies

Negative

• Investment described as speculative with a high degree of risk and substantial risk of loss
• Total fund size figures are stated before deducting sales load and offering expenses, reducing net investable capital

Argus Aug 13 session 33 alerts

+4.68% close to close 1.6x rel. volume Open Argus

Details

News Market Reaction – HOOD

+2.0% Peak Tracked

-2.9% Trough Tracked

$90.09B Market Cap

In the Aug 13 session, HOOD gained 4.68%, reflecting a moderate positive market reaction. Argus tracked a peak move of +2.0% during that session. Argus tracked a trough of -2.9% from its starting point during tracking. Our momentum scanner triggered 33 alerts that day, indicating elevated trading interest and price volatility. Trading volume was above average at 1.6x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

At publication, SCHW had risen 2.19%, while the momentum scanner listed no peers. Against that mixed...

Analysis

At publication, SCHW had risen 2.19%, while the momentum scanner listed no peers. Against that mixed cross-reference, the offering’s pricing should be viewed alongside two prior IPO launches, with recent insider net selling as a risk factor.

Key Figures

IPO shares: 8,000,000 common shares IPO price: $25.00 per share Total fund size: $225.5 million +5 more

IPO shares

8,000,000 common shares

Initial public offering

IPO price

$25.00 per share

Initial public offering

Total fund size

$225.5 million

Before sales load and offering expenses

Potential fund size

$255.5 million

If underwriters’ option is exercised in full

Overallotment option

1,200,000 common shares

30-day underwriters’ option

Option period

30 days

Underwriters’ additional share purchase option

Expected trading date

Aug. 13, 2026

NYSE listing under RVII

Expected closing date

Aug. 14, 2026

Subject to customary closing conditions

Previous IPO,offering Reports

3 past events · Latest: Aug 03

Same Type 3 events

1. Aug 03

   IPO launch

   24h Move

   +4.4%

   Roadshow launched for proposed RVII offering with expected NYSE listing.

2. Mar 06

   IPO pricing

   24h Move

   -4.3%

   RVI priced shares at $25.00, with a larger potential fund size.

3. Feb 17

   IPO launch

   24h Move

   -0.7%

   Roadshow launched for RVI offering with planned overallotment and NYSE listing.

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

Key Terms

business development company, closed-end fund, registration statement, rule 134

4 terms

business development company financial

"RVII is a business development company (“BDC”), a type of closed-end fund"

A business development company is a publicly traded investment vehicle that lends to and buys stakes in smaller or privately held companies, acting like a combination of a lender, investor, and business partner. It matters to investors because BDCs offer the potential for higher regular income through dividends and diversified exposure to growing businesses, but they can also carry greater credit and liquidity risk than typical stocks or bonds—think higher-yielding but riskier income instruments.

closed-end fund financial

"a business development company (“BDC”), a type of closed-end fund"

A closed-end fund is a pool of money collected from many investors to buy a diversified mix of stocks, bonds, or other assets, and it is managed by professionals. Unlike some investment options, its shares are bought and sold on stock exchanges at prices determined by supply and demand, which can be above or below the fund's actual value. This structure allows investors to buy or sell shares easily, but the value may fluctuate based on market conditions.

registration statement regulatory

"A registration statement relating to the sale of common shares"

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.

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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RVII launches with a total fund size of $225.5 million, or up to $255.5 million if the underwriters’ option to purchase additional common shares is exercised in full

MENLO PARK, Calif., Aug. 13, 2026 (GLOBE NEWSWIRE) -- Today, Robinhood Ventures Fund II (RVII) announced the pricing of its initial public offering of 8,000,000 common shares of beneficial interest at an initial public offering price of $25.00 per share. This brings the total size of the Fund to $225.5 million, or up to $255.5 million if the underwriter’s option to purchase additional common shares is exercised in full. The total fund size is calculated before deducting the sales load and offering expenses.

The shares are expected to begin trading on the New York Stock Exchange (NYSE) on Aug. 13, 2026 under the symbol RVII, and the offering is expected to close on Aug. 14, 2026, subject to the satisfaction of customary closing conditions.

RVII has granted 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.

RVII is a business development company (“BDC”), a type of closed-end fund, that provides retail investors exposure to a diversified portfolio of private companies in their earliest stages. Investors can learn more by reading the registration statement.

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

A registration statement relating to the sale of common shares of beneficial interest of RVII was declared effective by the Securities and Exchange Commission on Aug. 12, 2026.

This offering is being made only by means of a final prospectus. Copies of the final prospectus related to the offering, 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. Investors are advised to carefully consider the investment objectives, risks and charges and expenses of RVII before investing. The prospectus, which contains this and other information about RVII, should be read carefully before investing.

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.

Disclosures:

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

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.

Forward-Looking Statements

This communication includes “forward looking statements,” including with respect to the completion of RVII’s initial public offering and the expected listing of RVII’s shares on the New York Stock Exchange under the symbol “RVII.” These statements also include statements regarding RVII’s objectives to provide retail investors exposure to a diversified portfolio of private companies in their earliest stages, to make seed investments in companies across sectors, to focus on companies that are current or previous participants in the Y Combinator startup accelerator program or companies with a founder or co-founder that participated in the program, and other statements that are not historical facts. You can sometimes identify forward-looking statements through the use of words or phrases such as “will,” “expect,” “anticipated,” “aim,” “intended,” 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.

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3996552d-6798-448d-8a01-f28794b80be2

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What are the key terms of the Robinhood Ventures Fund II (RVII) IPO announced on August 13, 2026 for HOOD investors?

The RVII IPO is priced at $25.00 per share for 8,000,000 shares, targeting $225.5 million before expenses. According to Robinhood Ventures Fund II, a 30-day option for 1,200,000 additional shares could raise the total to $255.5 million.

When will Robinhood Ventures Fund II (RVII) shares start trading on the NYSE and when is the IPO closing?

RVII shares are expected to begin trading on the NYSE on August 13, 2026 under the symbol RVII. According to Robinhood Ventures Fund II, the offering is expected to close on August 14, 2026, subject to customary closing conditions.

How large could Robinhood Ventures Fund II grow if underwriters exercise their overallotment option?

If underwriters fully exercise their 30-day option for 1,200,000 additional shares, the fund size could reach $255.5 million before expenses. According to Robinhood Ventures Fund II, this figure is calculated prior to deducting the sales load and offering costs.

What type of investment vehicle is Robinhood Ventures Fund II (RVII) and what does it invest in?

RVII is a business development company (BDC), a type of closed-end fund. According to Robinhood Ventures Fund II, it provides retail investors exposure to a diversified portfolio of private companies in their earliest stages, accessed through a listed share structure.

Who manages Robinhood Ventures Fund II and how is it related to Robinhood Markets (HOOD)?

Robinhood Ventures is the investment adviser for RVII and is an SEC-registered adviser. According to Robinhood Ventures Fund II, Robinhood Ventures is a wholly owned subsidiary of Robinhood Markets, Inc., which is associated with the stock symbol HOOD in this context.

What risks does Robinhood Ventures Fund II highlight for potential IPO investors in RVII?

The fund characterizes an investment in RVII as speculative with a high degree of risk and substantial risk of loss. According to Robinhood Ventures Fund II, investors should carefully review objectives, risks, charges, and expenses in the prospectus before investing.