We advised Robinhood on the IPO and NYSE listing of Robinhood Ventures Fund II

Davis Polk advised Robinhood Markets, Inc. and Robinhood Ventures Fund II (RVII) in connection with RVII’s initial public offering and listing on the New York Stock Exchange. RVII, whose common shares are listed under the symbol “RVII,” is a business development company designed to democratize access to private companies at their earliest stages of growth. RVII sold 8,000,000 shares of beneficial interest in its IPO, bringing the total fund size to $225.5 million.

RVII, the second fund from Robinhood Ventures DE, LLC, targets a diversified portfolio of early-stage and growth-stage private companies, with a focus on companies that are current or previous participants in the Y Combinator startup accelerator program or companies with a founder or co-founder that has participated in the Y Combinator startup accelerator program.

The Davis Polk investment management team included partners Christopher P. Healey and Gregory S. Rowland, counsel Leon E. Salkin and Elise M. Dolan and associates Nick Ward and Saloni Pant. The capital markets team included partner Emily Roberts and associate Paula Gergen. The tax team included partner Kara L. Mungovan and associate Dmitry Dobrovolskiy. Members of the Davis Polk team are based in the Washington DC, New York and Northern California offices.

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