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Riding an AI rally, Robinhood preps second retail venture IPO

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Just two months after listing its first venture fund on the stock market, Robinhood is preparing to launch a second. The company has filed a confidential registration for RVII, a standard regulatory step that allows it to work through the approval process before making details public.

Unlike its first fund, which currently holds stakes in 10 late-stage companies — Airwallex, Boom, Databricks, ElevenLabs, Mercor, OpenAI, Oura, Ramp, Revolut, and Stripe — RVII will cast a wider net, investing in growth-stage and early-stage startups. It’s a meaningful distinction, given that early-stage startups are younger and carry more risk but also offer the potential for greater returns.

The fundraising target for RVII has not yet been set, the company said in a blog post. For its inaugural fund, Robinhood sought to raise $1 billion but ultimately fell several hundred million short of that goal.

Despite the shortfall, the first fund has performed strongly. RVI — the ticker for Robinhood’s first fund, which trades on the NYSE (New York Stock Exchange) — debuting on the NYSE at $21 a share in early March and has since more than doubled, closing on Monday at $43.69. Market enthusiasm for the AI prospects of the fund’s underlying startups has likely fueled the stock’s rise.

The premise behind both funds addresses a longstanding gap in who gets to invest in startups. Under federal rules, only “accredited” investors — those with a net worth exceeding $1 million or annual income above $200,000 — can put money into private companies. That has historically locked ordinary investors out of the earliest and most lucrative stages of a company’s growth. RVI and now RVII, are designed to change that, letting anyone invest in a portfolio of private startups through a regular brokerage account.

“You can think of [Robinhood Ventures] as a publicly traded venture capital firm with daily liquidity. No accreditation requirements and no carry,” Robinhood CEO Vlad Tenev said in an interview at The Wall Street Journal’s Future of Everything conference last week. Daily liquidity means shares can be bought or sold any day the market is open, unlike traditional VC funds, where capital is locked up for years. No carry means Robinhood doesn’t take a percentage of investment profits, as conventional venture firms typically do.

Over the past few years, the most valuable AI startups have gone from early bets to companies worth tens or hundreds of billions of dollars, and almost all of that appreciation has happened in the private markets, out of reach for most investors.

Tenev’s longer-term vision goes further still. “The aspiration is, if you’re a company raising a seed round and a Series A round — so, just first capital — retail should be a big chunk of that round, much like it now is in the public markets,” Tenev said at the conference. “And we should let those people in at the ground floor, so that they can actually benefit from this potential appreciation that’s increasingly happening in the private markets.”

If that vision takes hold, it could fundamentally change how startups raise their earliest capital, with retail investors eventually sitting alongside venture firms, including in the earliest rounds, where the biggest returns are often made, a whole lot of money is lost, as well.

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Imo senatorial aspirant, Nwachukwu drags NDC to court over ticket denial  

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A Senatorial Aspirant, Isaac Nwachukwu, has dragged Nigeria Democratic Congress, NDC, and the Independent National Electoral Commission, INEC, before a Federal High Court Sitting in Owerri, Imo State, over the fallout of the party’s National Assembly primaries.

Nwachukwu, in a suit filed through his Counsel, Cajethan Oguzie, accused the party of denying him the Imo North senatorial ticket after emerging a consensus candidate and paying N5m for the nomination form.

The suit also disclosed that Nwachukwu had paid N20m for the support of the party, but his support was unexplainably reduced to N10m when the list of those who supported the party was published.

The NDC Senatorial Aspirant, in his prayers before the court, demanded that a declaration should be made that he is the consensus candidate of the party in the state with regard to the Imo North Senatorial Zone in the 2027 General election.

“A declaration that the first defendant, NDC, be restrained from fielding another candidate except the plaintiff in the General election into the Imo North Senatorial Zone as he is the consensus candidate for the said election.

“A declaration that the second defendant, INEC, be perpetually restrained from recognising and accepting the candidacy of another person except the plaintiff in the Imo North Senatorial election pending the determination of the matter,” the suit stated.

In an affidavit supporting the originating summons, Nwachukwu stated that he purchased the expression of interest form to aspire for the position for Imo North senatorial zone, a copy of which is attached in the suit already filed.

The NDC Senatorial Aspirant added that upon the purchase of the form, he made a monetary contribution in support of the party’s growth in the tune of N20m into the party’s FCMB account number through his Counsel, receipt also attached in the suit as an exhibit.

“The first sign of irregularity and no compliance with the NDC constitution and electoral act came up when the N20m I paid for party support was allocated to one of the aspirants for my Senatorial District by the name Matthew Omegara, and the N10m that Matthew Omegara paid for party support was allocated to me by the Screening Committee headed by Sam Egwu and Buba Galadimma.

” In compliance with NDC’s directives, I participated in the NDC screening exercise and was successfully cleared as an aspirant to participate in the primary election.

After my consensus candidacy was ratified, my name was shortlisted as a Candidate for Imo North district. A copy of the result is hereby annexed as Exhibit 1U5,” the affidavit added.

Nwachukwu alleged that his name was substituted with Omegara after he had been declared the winner of the primary election.

The Imo North Senatorial Aspirant claimed that the National leader of the party, Seriake Dickson, had summoned him for a meeting telling him that his candidacy was affected after a party chieftain from his state said he didn’t know him.

Among other demands, Nwachukwu is asking the court to order NDC to issue him a certificate as its candidate for the Imo North Senatorial District.

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ADC raises alarm over alleged membership forgery in Zamfara

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Supporters and members of the African Democratic Congress, ADC, in Anka and Talata Mafara Local Government Areas of Zamfara State have alleged attempts to manipulate the party’s membership records and card numbers ahead of internal political activities.
The allegation was contained in a statement issued on Wednesday in Gusau by Nura Rabiu Cibiki, Director of Media and Strategy, Campaign and Mobilisation Committee for Abdulrahaman Yahaya, an aspirant for the House of Representatives seat representing Anka/Talata Mafara Federal Constituency.

The group warned against any attempt to alter or duplicate legitimate membership figures, saying such actions could deepen tensions within the party in the constituency.

“We strongly oppose any move to manipulate or duplicate legitimate membership figures, warning that such actions would only worsen existing tensions within the party and the Anka/Talata Mafara Federal Constituency,” the statement said.

The supporters maintained that ADC members in Anka and Talata Mafara were aware of the party’s authentic membership strength and were prepared to protect the integrity of the party’s records.

The statement added that while justice may be delayed, the truth could not be denied.

Meanwhile, Yahaya has filed a suit at the Federal High Court in Gusau challenging alleged irregularities in the party’s primary election process in the constituency.

The court has fixed June 23, 2026, for mention of the case.

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