Robinhood Private Equity Fund has rebounded 30% after poor initial performance, but may face challenges from super IPOs such as SpaceX On April 5th, according to Fortune, Robinhood Ventures I, a private market fund launched by Robinhood, has rebounded by about 30% after experiencing poor initial performance. The product was launched in early March and fell 16% on the first day, but is now gradually recovering, attempting to provide retail investors with a channel to participate in equity of late stage unlisted companies. However, analysts warn that as potential IPOs of tech giants such as SpaceX, OpenAI, and Anthropic approach, the private equity market may face short-term volatility pressure. If top companies perform poorly in going public, it may drag down secondary market valuations and affect unicorn IPO expectations, including Stripe. The head of Robinhood Ventures responded that the above concerns are more of short-term fluctuations, and there are still a large number of investment opportunities in the long run. With the continuous progress of AI technology, the application ecosystem built around the head model will release huge growth potential. Currently, the fund mainly invests in a few late stage companies, including fintech companies Airwallex and Stripe, as well as AI companies VNet, and obtains equity through primary market or licensed secondary market transactions.