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Riding an AI rally, Robinhood preps second retail venture IPO

Published

2 months ago

May 12, 2026

Preport

Vlad tenev robinhood GettyImages 2272038864.jpg

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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Related Topics:IPO preps rally retail Riding Robinhood venture

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NDLEA arrests Nigerian-British grandma with 13kg of cocaine hidden in plantain peels

Published

3 minutes ago

July 5, 2026

Preport

The National Drug Law Enforcement Agency (NDLEA) has arrested a 67-year-old Nigerian-British grandma following the discovery of 13kg of cocaine in her luggage at the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos.

NDLEA spokesperson Femi Babafemi said in a statement on Sunday that the drugs were concealed in peels of plantain, which appeared as real plantains and were packed among other food items.

Mr Babafemi said the suspect, who works as a caregiver in the UK, was arrested at the departure hall of Terminal 2 of the Lagos airport while attempting to board a Virgin Atlantic airline flight to London on Sunday, June 28.

He said a thorough search of her bags resulted in the discovery of 31 big wraps of cocaine, which were packaged to appear like plantain hands, weighing a total of 13 kilogrammes.

“In her statement, the elderly woman admitted full ownership of the recovered cocaine exhibits,” he said.

The NDLEA spokesman said that a sting operation in the Ekwusigo Local Government Area of Anambra State on Monday, June 29, resulted in the arrest of a 45-year-old PhD student at the University of Putra, Malaysia, over the seizure of 5.80kg of cocaine.

Mr Babafemi said the drugs were concealed in the walls of nine cartons of Orijin bitters, a consignment that was part of a consolidated cargo heading to Kuala Lumpur, Malaysia.

He said the arrest of the suspect in Anambra followed the interception of 36 parcels of cocaine, with a gross weight of 5.80kg, concealed within the walls of the herbal drink cartons.

“Four suspects were initially arrested in parts of Lagos during investigations, including a driver who conveyed the consignment to the cargo agent.

“Also, a trader at ASPANDA market, Trade Fair Complex, Lagos, who handed over the consignment to the driver for delivery to the cargo agent.

“There was also an accomplice who supplied the cartons of Origin bitters used in concealing the cocaine.

“The efforts eventually paid off, leading to the unmasking of the main suspect hiding in his village, Aziora, Ozubulu, Anambra, as the leader of the syndicate,” he said.

In another development, in Taraba, NDLEA operatives acting on credible intelligence on Saturday, July 4, arrested a suspect with 43,980 capsules of Tramadol.

Mr Babafemi said the drugs were concealed inside two vehicle fuel tanks along Zaki-biam road, Wukari Local Government Area of the state, while coming from Onitsha, Anambra state.

“Two suspects were arrested in possession of 1.7 kilogrammes of methamphetamine by NDLEA officers on Thursday, July 2, during a raid operation at Gwantu, Gwantu LGA, Kaduna State.

“A 65-year-old suspect was nabbed with 231.7kg skunk at Ikwo, Ebonyi State, on Saturday,”he said.

Similarly, a 75-year-old grandpa was arrested in possession of 15kg of skunk in Kurgwi, Qua’anpan Local Government Area (LGA), Plateau, on Friday, July 3.

Additionally, in Gombe State, NDLEA operatives, acting on credible intelligence on Wednesday, arrested two suspects in Kuri village, Yamaltu-Deba LGA, where they were found with 587 blocks of cannabis sativa, weighing 556kg.

Mr Babafemi said commands and formations of the agency across the country have continued the War Against Drug Abuse (WADA) sensitisation activities.

He said the campaigns were carried out in schools, worship centres, workplaces, and communities, among others, in the past week.

Mr Babafemi added that the agency took the campaign to students and staff of Girls Secondary School, Abagana, Anambra, and Government Technical College, Obe, Enugu.

Others include Adeola Odutola College, Ijebu Ode, Ogun State, and FCE Staff Demonstration School, Kabuga, Kano State.

The NDLEA chairman, retired Brig.-Gen. Buba Marwa, commended the officers and men of the MMIA, Taraba, Kaduna, Ebonyi, Plateau, and Gombe Commands for the arrests and seizures.

He tasked officers to continue to raise the operational bar.

(NAN)

News

STATEMENT MADE! D’TIGERS COMPLETE PERFECT 3-0 SWEEP WITH 44-POINT ROUT OF RWANDA

Published

51 minutes ago

July 5, 2026

Preport

Nigeria’s senior men’s basketball team, D’Tigers, have served notice to the rest of Africa after wrapping up the latest FIBA Basketball World Cup African Qualifiers window with a flawless 3-0 record, crowned by a dominant 106-62 demolition of Rwanda.

In a performance that underlined their resurgence, D’Tigers overwhelmed Rwanda from the opening tip, controlling both ends of the floor and never allowing their opponents a route back into the contest. Nigeria stormed to a 25-14 first-quarter lead, stretched the advantage to 49-29 at halftime, and produced an even more devastating second half to seal an emphatic 44-point victory.

The result was the perfect ending to an outstanding qualification window in which Nigeria rediscovered the grit, chemistry, and confidence that have long made D’Tigers one of Africa’s elite basketball nations.

The journey began with a hard-earned 84-81 victory over Tunisia, where Nigeria showed remarkable composure to overcome one of the continent’s traditional powerhouses. They followed it with another nail-biting triumph, edging Guinea 80-79 in dramatic fashion to end Guinea’s unbeaten run and keep their own perfect record intact.

With momentum fully on their side, D’Tigers saved their most complete performance for the final game. Against Rwanda, the Nigerian side delivered an attacking masterclass, moving the ball brilliantly, defending with intensity, and scoring at will as they cruised to a commanding 106-62 victory.

The perfect 3-0 sweep not only secured Nigeria’s place in the next phase of the qualifiers but also sent a powerful warning to every team still standing in the race for the 2027 FIBA Basketball World Cup.

After questions were raised about the team’s fortunes in recent years, D’Tigers have answered in the best possible way—on the court. Three games, three wins, and a renewed belief that Nigerian basketball is once again on the rise.

Nigeria’s Results

🏀 🇳🇬 Nigeria 84-81 Tunisia
🏀 🇳🇬 Nigeria 80-79 Guinea
🏀 🇳🇬 Nigeria 106-62 Rwanda

Three games. Three victories. A perfect window.

D’Tigers didn’t just win—they made a statement. Africa has been put on notice