Robinhood launches $200 million RVII fund, focusing on Y Combinator seed stage startups On August 5th, according to Tech Funding News, Robinhood announced that it has submitted an IPO application for its second venture capital fund, Robinhood Ventures Fund II (RVII), with plans to raise up to $200 million and issue 7.6 million shares at a price of $25 per share. It is expected to be listed on the New York Stock Exchange under the code "RVII" on August 13th. RVII will focus on investing in seed stage startups established by Y Combinator or alumni, and currently holds equity in 80 private companies. Unlike the first phase fund (RVI), RVII charges a 2% annual management fee and a 20% return incentive fee, with a comprehensive annual fee rate of approximately 4.18%. Robinhood itself classifies the fund as a "speculative" product and does not provide shareholder redemption rights. Goldman Sachs serves as the lead underwriter, with Citigroup, JPMorgan Chase, UBS, and Wells Fargo jointly underwriting. The subscription window will close on August 12th.