Vlad Tenev, chairman and CEO of Robinhood Markets, inaugurated the Opening Bell at the New York Stock Exchange on March 6, 2026, with the introduction of Robinhood Ventures Fund I.
However, the fund faced an immediate 11% drop in its public market debut on Friday, raising concerns over investor enthusiasm for riskier investment opportunities amid ongoing geopolitical tensions.
Trading under the ticker RVI, the fund provides exposure to significant private companies such as Revolut, a financial services firm, and Databricks, a software company. In an interview with CNBC's 'Squawk on the Street' on Friday, Robinhood CEO Vlad Tenev emphasized their mission to make private market investments accessible to retail investors, which has traditionally been exclusive.
'You have companies that are valued in the hundreds of billions, even nearing trillions, in private markets while retail investors are often shut out, and this trend is increasing,' Tenev remarked. 'We're not just aiming to open doors to private markets; we're aiming to dismantle those barriers completely.'
The structure of the fund allows retail investors to buy and sell shares of the closed-end fund similarly to traditional company stocks.
The fund's launch is concurrent with a challenging period for public markets, as U.S. stock indices are trending downwards due to fears that the ongoing U.S.-Iran conflict may extend beyond expectations.
Robinhood Ventures Fund initially set its IPO price at $25 per share, started trading at $22, reached a low of $21, and eventually stabilized around $22.12. By the close of trading on Friday, RVI was down to $21 per share.