Robinhood Ventures Fund I Invests $30 Million in Erebor Preferred Stock

Robinhood Ventures Fund I has purchased $30 million in preferred stock of Erebor Bank, with the investment closing on September 17. Erebor is a nationally chartered bank in the United States focused on the innovation economy, serving industries such as defense, robotics, AI, and hard tech. The bank received its official national banking license from the OCC and FDIC deposit insurance in February 2026, with deposits growing to over $7 billion. Founded in 2025, the company has support from institutions such as Valor Equity Partners, Lux Capital, and 8VC. RVI is the first fund launched by Robinhood Ventures, listed on the NYSE on March 6, 2026, primarily investing in private companies, aiming to provide retail investors with exposure to private market investments without requiring accredited investor status or minimum investment amounts, charging management fees but no performance fees.

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