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RVII opened at $22.50 after pricing 8 million shares at $25 each, giving retail investors access to early-stage startups
TIMOTHY A. CLARY / Getty Images
Robinhood Ventures Fund II priced its initial public offering of 8 million shares at $25 each on Thursday, raising $225.5 million for a fund structured to give retail investors access to early-stage private companies. The fund began trading on the New York Stock Exchange under the ticker RVII.
Shares of RVII began trading at $22.50 on Thursday. Underwriters hold a 30-day option to buy as many as 1.2 million more shares at the IPO price, a purchase that could lift the total fund size to $255.5 million, the company said. The offering is expected to close on Aug. 14.
