Mentioned:
Robinhood has a new ambition: giving investors exposure to startups in Y Combinator.
What’s happening:
- Robinhood (NASDAQ: HOOD) has priced their $255.5M USD IPO financing round for Robinhood Ventures Fund II
By the numbers:
- Robinhood Ventures Fund II will issue 8M common shares at a price of $25.00 per share
Why it matters:
- Robinhood Ventures Fund II is focused on deploying capital into seed and early stage companies that have been backed by prominent Silicon Valley accelerator Y Combinator
Going deeper:
- Robinhood has publicly stated that they will focus on investing in companies that Y Combinator directly invested into as well as founders launching new startups that previously went through Y Combinator’s accelerator
- Robinhood Ventures Fund II will list on the New York Stock Exchange
The intrigue:
- Robinhood’s first venture fund Robinhood Ventures Fund I previously made waves when they acquired equity ownership stakes in Stripe and ElevenLabs
