Robinhood Ventures Fund I completed its initial public offering and listing on the New York Stock Exchange, raising $315 million. The underwriter has been granted a 30-day option to purchase additional common shares at the initial offering price, less the underwriter’s commission.
S&C represented Goldman Sachs & Co., the sole underwriter in the offering.
Robinhood Ventures Fund I is a newly organized, non-diversified closed-end investment company, advised by Robinhood Ventures DE, a subsidiary of Robinhood Markets. The fund will invest in a concentrated portfolio consisting of companies that it believes are differentiated and positioned for sustained growth.
The S&C team that advised the underwriter was led by John Savva and Bill Farrar and included Renata Mascarenhas, Tyler Aust and Jarrett Prchal. Jameson Lloyd advised on tax matters. Tracey Russell advised on FINRA matters.