Robinhood Plans to Launch Private-Company Fund for Retail

Robinhood Markets Inc. is launching a closed-end fund to give US retail investors exposure to private companies.

The retail-trading platform said it filed an initial registration statement with the Securities and Exchange Commission, beginning the process to offer public shares of the fund, dubbed Robinhood Ventures Fund I, according to a statement Monday.

With many companies staying private for longer and valuations skyrocketing, retail investors have largely been stuck on the sidelines with few ways to tap into that kind of growth.

WATCH: Robinhood Markets is launching a closed-end fund to give US retail investors exposure to private companies. Bloomberg’s Paige Smith reports.

Source: Bloomberg

“For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly ...