Robinhood Markets’ New Private-Markets Fund Slips Below IPO Price, Testing Push Beyond Trading
Robinhood’s first private-markets fund traded at $22.50 on Tuesday, about 10% below its $25 IPO price just four days after launch. The closed-end fund holds late-stage companies including Databricks, Ramp, and Revolut. Robinhood shares were little changed at $79.74 midday. The company reported 27.2 million funded accounts and $324.4 billion in platform assets at January’s end.