Robinhood Launches IPO for AI-Driven Fund

Robinhood Files S-1 for Second Retail Venture Fund RVII

• Robinhood confidentially filed an S-1 for its second retail venture fund, RVII, on May 11, 2026.
• RVII targets growth-stage and early-stage startups, diverging from the late-stage focus of its predecessor, RVI.
• The fundraising goal for RVII remains undisclosed; however, it will feature no accreditation requirement or minimum investment threshold.
• The first fund, RVI, launched on March 6, 2026, with an IPO price of $25 per share and includes a $75 million investment in OpenAI.
• RVI charges a 2% annual management fee, reduced to 1% for the first six months.

Robinhood’s new fund RVII aims to capture opportunities in early-stage startups while maintaining accessibility features that attracted retail investors to RVI.