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Robinhood’s venture fund IPO attracted 150,000+ retail investors, CEO says

Published

2 months ago

May 6, 2026

Preport

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Robinhood CEO Vlad Tenev is touting the success of the fintech’s new Ventures Fund I, which allows retail investors to invest in private tech companies like Stripe, Oura, Databricks, OpenAI, and others, through a publicly-traded fund listed on the NYSE. “We had something like over 150,000 retail investors participate in the IPO, so it’s quite democratized,” noted Tenev, in an interview at The Wall Street Journal’s “Future of Everything” conference this week.

The fund, which launched in March, arrives at a time when the term “unicorn,” which once referred to the rare billion-dollar startup, has become outdated. When AI model providers like OpenAI and Anthropic are raising capital at valuations of $850+ billion to $900 billion, another word besides “unicorn” is needed.

“We call them frontier companies,” said Tenev, explaining how Robinhood differentiates these larger, private companies from other startups.

“There are private companies that are raising capital at valuations in the high hundreds of billions. You’re going to see, perhaps, multiple private companies getting into the trillions [in valuation] before the IPO — before retail investors can participate,” he said.

Robinhood’s initial fund has exposure to many tech companies that have yet to go public, including most recently OpenAI, which joins Mercor, Ramp, Airwallex, Boom, and others.

Tenev believes the new fund makes sense as part of Robinhood’s broader mission to democratize access to markets for retail investors.

Initially, the company did this through its zero-commission trades, which significantly increased retail participation in the public markets. Now it sees investing in large, private companies as the next step.

“You can think of [the new fund] as a publicly traded venture capital firm with daily liquidity. No accreditation requirements and no carry,” Tenev said in the interview. “So just a competitive management fee, no carry — which, for those of you familiar with venture capital, typically, when you invest in a fund as an LP, you pay a management fee, but there’s also a carry of typically around 20%, which means 20% of your profits go to the fund manager.”

Tenev believes that, due to the size of these companies, retail investors should be able to get in earlier than the IPO — especially given how many companies are choosing to wait to go public.

“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. “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,” he added.

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APC Election Officials Break Silence on Pankshin/Kanke/Kanam Primary Dispute

Published

34 minutes ago

July 8, 2026

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Controversy surrounding the All Progressives Congress (APC) House of Representatives primary election for the Pankshin/Kanke/Kanam Federal Constituency has taken a new turn, with officials who conducted the exercise alleging attempts by some aggrieved aspirants to undermine the credibility of the election.

The allegations were made on Tuesday during a press briefing in Jos by members of the Forum of Ward Presiding Officers, Local Government Collation Officers and Constituency Collation/Returning Officers.

Speaking on behalf of the forum, its Chairman, Chinwatda Tapar, claimed that some aspirants approached election officials after the May 16, 2026 primary and urged them to sign affidavits containing accounts that contradicted what transpired during the exercise.

According to Tapar, some officials were allegedly offered financial inducements, while others faced intimidation and sustained pressure in a bid to secure their cooperation.

“Our duty was to conduct a free, fair and credible election, not to become instruments in any post-election effort aimed at distorting the truth,” he said.

Tapar explained that the election officials were appointed by the APC National Secretariat through the committee constituted to conduct the party’s 2026 National Assembly primary elections in Plateau State, headed by Hon. Stella Okotete.

He stated that the committee deployed them to oversee the Pankshin/Kanke/Kanam Federal Constituency primary, which, according to him, was conducted peacefully, transparently and in compliance with the APC constitution and electoral guidelines.

He maintained that the election produced a winner who was duly declared and returned after the collation of results.

The forum further disclosed that it had retained information relating to the alleged approaches made by the aggrieved aspirants and would present the evidence to law enforcement agencies, the APC leadership or any court of competent jurisdiction if required.

The officials urged party members and stakeholders to channel any grievances arising from the primary election through lawful and democratic processes rather than attempting to influence election officials.

“Our responsibility as Ward Presiding Officers, Local Government Collation Officers and Constituency Collation/Returning Officers ended with the successful conduct of the primary election and the declaration of its outcome,” Tapar added.

The forum reaffirmed its commitment to truth, fairness, due process and the democratic principles of the APC, insisting that it would not participate in any effort to compromise the integrity of the primary election or distort the facts surrounding its conduct.

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2027: Oyo ex-Deputy governor, Arapaja dumps Makinde, meets APC chieftains

Published

1 hour ago

July 8, 2026

Preport

Reports reaching DAILY POST from the camp of a former deputy governor of Oyo State, Alhaji Taofeek Arapaja, indicate that Arapaja has perfected plans to join the All Progressives Congress, APC, ahead of the 2027 general elections.

It was gathered that the planned defection is coming a few hours after the former lawmaker met President Bola Tinubu.

Arapaja met Tinubu in Abuja two days ago, after which he also met some chieftains of APC from Oyo State at his residence in Abuja on Tuesday.

The meeting was attended by the gubernatorial candidate of APC in the state, Barrister Sharafadeen Alli, deputy gubernatorial candidate, Mr Adesoji Adedeji and Oyo South Senatorial candidate of the party, Hon Aderemi Oseni, Arapaja’s loyalists and supporters; and other notable personalities from the State.

Sources at the meeting disclosed it centred on the planned defection of Arapaja to APC.

Both Makinde and Arapaja belong to the same faction of PDP until recent moves by Arapaja to join APC.

Arapaja has been a close ally of Makinde since the inception of his administration in 2019.

He had earlier served as National Vice Chairman (South West) and later served as Deputy National Chairman (South) for the Peoples Democratic Party, PDP.

He also serves as National Secretary of a PDP faction loyal to Makinde.

Arapaja, who hails from Idi Arere in Ibadan, has been in active politics since the inception of this current fourth republic in 1999.

He served as Chairman of Ibadan South East Local Government Area between 1999 and 2002.

Arapaja represented Ibadan North East/ Ibadan South East federal constituency on the platform of PDP between 2003 and 2007 and later served as Deputy Governor when the late Adebayo Alao-Akala was the Governor between 2007 and 2011.