Robinhood Ventures Fund II Announces Launch of Initial Public Offering

Today, Robinhood Ventures Fund II (RVII) is announcing the launch of the roadshow for its initial public offering of common shares of beneficial interest. RVII has filed a registration statement on Form N-2 with the U.S. Securities and Exchange Commission to offer up to 8,000,000 common shares of beneficial interest at an expected initial public offering price of $25 per share. The offering consists of up to 7,600,000 common shares of beneficial interest being offered by RVII and up to 400,000 common shares of beneficial interest being offered by Robinhood Markets, Inc. (the "Selling Shareholder"). The window to request IPO shares is expected to close on August 12. RVII will not receive any of the proceeds from the sale of shares by the Selling Shareholder. 

In addition, RVII intends to grant the underwriters a 30-day option to purchase up to an additional 1,200,000 common shares of beneficial interest from RVII at the same price as the initial offering price, less underwriting discounts and commissions. The shares are expected to be listed on the New York Stock Exchange (NYSE) under the symbol RVII.

Later today, August 3 at 9 a.m. PT / 12 p.m. ET, RVII will share a video presentation with more information about RVII, with appearances from Robinhood Markets CEO, Vlad Tenev, Robinhood Markets CFO, Shiv Verma, the Head of Robinhood Ventures and President of RVII, Sarah Pinto, and RVII Portfolio Manager, Rich Aberman. The video will be available directly in the Robinhood app and on Robinhood's YouTube.

Goldman Sachs & Co. LLC is the lead bookrunner for the proposed offering. Citigroup, J.P. Morgan, UBS Investment Bank, and Wells Fargo Securities are joint bookrunners for the proposed offering.

A registration statement relating to the proposed sale of common shares of beneficial interest of Robinhood Ventures Fund II has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release is being made pursuant to, and in accordance with, Rule 134 under the Securities Act of 1933, as amended, and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The proposed offering by Robinhood Ventures Fund II ("RVII") will be made only by means of a prospectus, which forms part of the registration statement. Copies of the registration statement and the preliminary prospectus included therein relating to the proposed offering may be obtained for free by visiting the Securities and Exchange Commission's website at www.sec.gov. Alternatively, copies of the prospectus, when available, may be obtained by contacting Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526 or by emailing prospectus-ny@ny.email.gs.com; J.P. Morgan Securities LLC, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or email: prospectus-eq_fi@jpmchase.com and postsalemanualrequests@broadridge.com; Citigroup, ℅ Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel:800-831-9146); Wells Fargo Securities LLC, 608 2nd Avenue South, Minneapolis, MN 55402, at 800-645-3751 (option #5) or email a request to WFScustomerservice@wellsfargo.com; or UBS Securities LLC, Attention: Equity Syndicate, 11 Madison Avenue, New York, NY 10010, by telephone at (888) 827-7275, or by email at ol-prospectus-request@ubs.com.

Disclosures:

Cautionary Note Regarding Forward-Looking Statements

This communication includes "forward looking statements," including with respect to RVII's proposed initial public offering (the "IPO") of common shares of beneficial interest, the filing and effectiveness of the registration statement on Form N-2, the expected timing of the IPO, the anticipated public offering price of $25 per share, the size and terms of the offering, including the shares to be sold by RVII and by the Selling Shareholder, the expected closing of the window to request IPO shares on August 12, 2026, the underwriters' option to purchase additional common shares of beneficial interest, and the expected listing of RVII's shares on the New York Stock Exchange under the symbol "RVII." You can sometimes identify forward-looking statements through the use of words or phrases such as "will," "expects," "expected," "anticipates," "anticipated," "aims," "goal," "mission," "intends," "intended," "believes," "plans," "estimates," "potential," "future," "may," "could," or "should," the negative of these terms, or similar words and expressions of the future. Forward-looking statements involve known and unknown risks, uncertainties and assumptions, including the risks outlined under "Risks" in the preliminary prospectus and elsewhere in RVII's filings with the SEC, which may cause actual results to differ materially from any results expressed or implied by any forward-looking statement. RVII and Robinhood have no obligation, and do not undertake any obligation, to update or revise any forward-looking statement made in this communication to reflect changes since the date of this communication, except as required by law.

An investment in Robinhood Ventures Fund II is speculative and involves a high degree of risk with substantial risk of loss.

RVII is a newly organized, closed‑end, diversified management fund that has elected to be regulated as a business development company, investing in a concentrated portfolio of private "Promising Companies." This investment strategy entails limited information, illiquidity, valuation uncertainty, and risk of loss; shares and the value of RVII's Net Assets may be volatile and the shares may trade at a discount or premium, and exposures may be via illiquid private vehicles with capital calls and extra fees. RVII may use leverage, has limited operating history, and does not anticipate that it will pay dividends on a quarterly basis or become a predictable distributor of dividends, all of which can reduce or delay returns.

A "Promising Company" means early-stage and growth-stage private companies that, in the view of Robinhood Ventures, demonstrate significant growth potential.

Closed-end funds differ from open-end funds in that closed-end funds do not redeem their shares at the request of an investor. No shareholder has the right to require RVII to redeem his, her or its shares. While RVII's shares are expected to be listed on an exchange, an active public market for the shares may not develop. As a result, shareholders may not be able to liquidate their investment. Accordingly, shareholders should consider that they may not have access to the funds they invest in RVII for an indefinite period of time. There is no assurance that the private companies in which RVII invests will ever have a liquidity event.

Robinhood Ventures is the investment adviser for RVII. Robinhood Ventures is the dba name for Robinhood Ventures DE, LLC. Robinhood Ventures is an SEC-registered investment adviser and a wholly owned subsidiary of Robinhood Markets, Inc.

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Contacts
Investor Relations: ir@robinhood.com
Press: press@robinhood.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3996552d-6798-448d-8a01-f28794b80be2