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Stock impact report

Robinhood's startup fund stumbles in NYSE debut [TechCrunch]

Destiny Tech100 Inc. (DXYZ) 
Company Research Source: TechCrunch
a portfolio of what it calls “some of the most exciting private companies operating today.” To do this, the company that pioneered the commission-free brokerage model has secured access to eight startups—including Databricks, Stripe, Mercor, and Oura—grouping them into a vehicle called Robinhood Ventures Fund I. The fund, which also includes Ramp, Airwallex, Revolut, and Boom, set out last month with an ambitious $1 billion target, but demand for this novel way of investing in private companies was lower than expected. On Thursday, Robinhood announced the fund had raised 658.4 million — which could reach $705.7 million if underwriters exercise their full allotment. The shares, priced at $25 in the offering, began trading on Friday and closed the day at $21, a 16% decline. RVI's reception on Wall Street stands in stark contrast to another attempt to give individual investors exposure to buzzy startups. When Destiny Tech100 — a publicly traded, closed-end fund holding stakes in 10 Show less Read more
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