Robinhood's publicly traded fund, RVI, closed down about 16% on its first day of trading, with fundraising progress falling short of expectations.

CoinFeed reported on March 7th that Robinhood Ventures Fund I, Robinhood's publicly traded fund, debuted on the NYSE this week, but closed at $21, a 16% drop. The fund aims to open up investment opportunities in popular private equity firms to retail investors, with a fundraising target of $1 billion. Currently, it has only raised $658.4 million (which could reach $705.7 million if underwriters exercise their full subscription rights). The fund's holdings reportedly include companies such as Databricks, Stripe, Mercor, Ora, Ramp, Airwallex, and Revolut, but its lack of exposure to widely anticipated high-valuation soon-to-be-listed companies (such as OpenAI, Anthropic, and SpaceX) is considered a major reason for the lack of retail investor interest.