Robinhood's Venture Fund I drops 11% on NYSE listing as firm broadens products

On Friday, Robinhood's closed-end Venture Fund I, trading under the ticker RVI, slid 11% in its first session on the New York Stock Exchange after being priced at $25 per share. The fund, designed to let retail investors trade exposure to private companies such as Revolut and Databricks, saw its price move between $21 and $22.17. Robinhood is simultaneously growing its Gold and invite-only Platinum credit card lines and launching custodial accounts that let adults invest on behalf of minors.