Robinhood private equity fund rebounds 30%, but will face new challenges from giant IPOs such as SpaceX Odaily Planet Daily News: Robinhood Ventures I, a private equity 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 its first day, but now it is gradually recovering, attempting to provide retail investors with a channel to participate in the 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 the performance of top companies going public is poor, it may drag down the valuation of the secondary market and affect the IPO expectations of unicorns including Stripe. The head of Robinhood Ventures stated that the above concerns are more of short-term volatility, and there are still plenty of investment opportunities in the long term. It believes that as AI technology continues to advance, the application ecosystem built around top models will unleash enormous growth potential. At present, the fund mainly invests in a small number of late stage companies, including fintech companies Airwallex and Stripe, as well as AI enterprise VNet, and acquires equity through primary market or licensed secondary market transactions. In addition, Robinhood had previously attempted to provide European investors with exposure to companies such as OpenAI and SpaceX through tokenized stocks, but was publicly denied by OpenAI for their partnership, sparking controversy. Currently, Robinhood Ventures is more focused on traditional equity investment paths, striving to enter the shareholder structure of high-quality startups.