Robinhood Markets cuts RVI IPO size as premium card push targets wealthier investors
Robinhood Markets priced the initial public offering of its first private-markets fund, Robinhood Ventures Fund I, at 12,615,608 shares at $25 apiece on Friday, well below the 40 million-share plan it outlined when the roadshow began last month. Robinhood said the deal would give RVI a total fund size of $658.4 million, or up to $705.7 million if the underwriter’s option is exercised in full.
