Source: TechCrunch
Summary
Robinhood, the popular trading app, has filed confidentially for its second venture fund. The new fund will target growth-stage startups in addition to early-stage companies. The move marks an expansion of Robinhood’s investment strategy, which previously focused on seed and Series A rounds. The size of the new fund has not been disclosed. Robinhood’s first venture fund was launched in 2020.
Our Reading
The launch follows a familiar script.
Robinhood’s second venture fund is more of the same, but bigger. They’re now targeting growth-stage startups, because who doesn’t love a good growth story? The company’s first fund, launched in 2020, was all about seed and Series A rounds, but now they’re playing with the big kids. The size of the new fund? Still a secret. Because, you know, confidentiality is key when you’re trying to disrupt the status quo. Robinhood’s just another fintech company trying to be a VC, because that’s what all the cool kids are doing these days.
Author: Evan Null
