Robinhood opened the order window on Monday for Robinhood Ventures Fund II, a closed-end fund that will give retail investors exposure to seed-stage startups from the Y Combinator ecosystem, at an expected $25 per share.

Robinhood Ventures Fund II will IPO at $25/share on August 12, investing in YC startups. Fund I holds Databricks, Stripe, and Canva. Goldman, Citi, and JPMorgan are underwriting.

Robinhood begins marketing its second closed-end fund targeting Y Combinator startups, aiming to raise $200 million through an IPO priced at $25