Robinhood has reportedly filed confidentially for what would be its second venture fund, aiming at growth and early-stage startups. The move signals a deeper push beyond trading as the AI rally boosts investor appetite for new companies. While details remain limited, the filing suggests Robinhood wants to broaden its startup bets and position for a future retail-facing listing.
Robinhood CEO Vlad Tenev says the fintech’s new venture fund IPO attracted more than 150,000 retail investors. The fund is designed to give everyday investors exposure to promising private tech firms before they go public, including names such as OpenAI, Stripe, Databricks, and Oura. The move signals how mainstream brokerage brands are reaching into private markets.
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Robinhood’s HOOD stock fell about 13% after the company reported first-quarter results that missed analyst expectations on both earnings and revenue. The sharpest worry came from crypto, where revenue reportedly plunged by 47%, dragging overall performance. Investors are now questioning near-term growth and how Robinhood’s push into new services will hold up amid weaker activity.
Robinhood shares dropped after a crypto slump dented trading volume growth. Crypto has faced heavy pressure this year as investors move into a risk-off mood, triggering broad selling across digital assets. With bitcoin down more than 30% in the past six months, retail interest has cooled, curbing activity on trading platforms like Robinhood.
Robinhood’s Ventures Fund I is investing $75 million in OpenAI, the maker of ChatGPT. The deal is designed to help retail investors gain exposure to private technology companies, not just public markets. It also hints that earlier tensions between Robinhood and OpenAI are now resolved, as generative AI continues to dominate investor and media attention.
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