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Title: Robinhood Plans To Launch a Startups Fund Open To All Retail Investors

Link: https://news.slashdot.org/story/25/09/15/2159...

Robinhood has filed with the SEC to launch "Robinhood Ventures Fund I," a
publicly traded fund designed to give retail investors access to startup
shares before IPOs. TechCrunch reports: While the current version of the
application is public, Robinhood hasn't filled in the fine-print yet. This
means we don't know how many shares it plans to sell, nor other details like
the management fee it plans to charge. It's also unclear which startups it
hopes this fund will eventually hold. The paperwork says it "expects" to
invest in aerospace and defense, AI, fintech, robotics as well as software
for consumers and enterprises. Robinhood's big pitch is that retail investors
are being left out of the gains that are amassed by startup investors like
VCs. That's true to an extent. "Accredited investors" -- or those with a net
worth large enough to handle riskier investments -- already have a variety of
ways of buying equity in startups, such as with venture firms like OurCrowd.
Retail investors that are not rich enough to be accredited have more limited
options. There are funds similar to what Robinhood has proposed, including
Cathy Wood's ARK Venture Fund, a mutual fund which holds stakes in companies
like Anthropic, Databricks, OpenAI, SpaceX, and others. [...] This new closed-
end "Ventures Fund I" is a more classic, mutual fund-style, approach. As to
when Robinhood's new fund will be available we don't know that either yet.

Read more of this story at Slashdot.

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