Robinhood (NASDAQ:HOOD) has launched a $1 billion closed-end fund IPO, giving retail investors access to pre-IPO companies including SpaceX, Databricks, and Stripe.

The $1 Billion Fund Structure

Robinhood Ventures Fund I is raising $1 billion by selling 40 million shares at $25 each—35 million from the fund and 5 million from Robinhood, according to Bloomberg. 

Investors can request shares starting February 17, with trading beginning February 26.

The fund already owns stakes in AI software firm Databricks, smart ring maker Oura Health, and UK fintech Revolut.

Additionally, it has agreed to invest in payments giant Stripe. These are the exact companies institutions have access to but retail…

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