Robinhood Ventures launches inaugural fund with Databricks, Ramp, Stripe, and other top private startups
Feb 18, 2026
Key Points
- Robinhood Ventures launches its inaugural closed-end fund giving retail investors direct equity stakes in private companies including Databricks, Ramp, Revolut, Airwallex, Boom Supersonic, and Stripe.
- Databricks trades at $204 against a $150 cost basis, while Airwallex sits underwater at $18.80 from a $21 buy, exposing retail investors to late-stage volatility.
- The closed-end structure creates potential for NAV premiums driven by retail demand, establishing a new distribution channel for private companies seeking liquidity and broader shareholder bases.
Summary
Robinhood Ventures launched its inaugural fund offering retail investors direct equity stakes in private companies including Databricks, Ramp, Revolut, Airwallex, Boom Supersonic, Mercor, Aura, and Stripe. The closed-end structure gives retail access to startups previously confined to institutional and accredited investors.
Portfolio performance is mixed. Databricks shows the strongest gains, purchased at $150 per share and now trading at $204. Ramp sits at $98 on a $90 cost basis. Mercor has moved up from $7.14 to an undisclosed price. Airwallex trades underwater at $18.80 against a $21 entry price.
Ramp's head of investor relations, Eric Fax Herbert, publicly backed the partnership and framed it around demand from family offices and individual investors. That public endorsement suggests at least some portfolio companies supported the deal. Whether all companies listed actively wanted retail exposure through this structure remains unclear.
Robinhood is using its retail distribution advantage to create demand for late-stage private equity stakes. If the fund gains traction, it could open a new liquidity channel for private companies. The risk is standard for closed-end funds: retail demand and FOMO can drive NAV premiums above net asset value, especially if portfolio companies perform well or approach public exits.