Robinhood's private equity fund has rebounded by 30% after poor initial performance, but it may face challenges from super IPOs like SpaceX

According to Fortune, the private market fund Robinhood Ventures I launched by Robinhood has rebounded about 30% after an initial poor performance. The product was launched in early March and fell 16% on its first day, but has gradually recovered, attempting to provide retail investors with a channel to participate in equity of late-stage private companies.

However, analysts warn that with the potential IPOs of tech giants like SpaceX, OpenAI, and Anthropic approaching, the private market may face short-term volatility pressure. If leading companies perform poorly in their IPOs, it could drag down secondary market valuations and affect IPO expectations for unicorns, including Stripe.

The head of Robinhood Ventures responded that the aforementioned concerns are more about short-term fluctuations, and there are still numerous investment opportunities in the long term. As AI technology continues to advance, the application ecosystem built around leading models will unleash tremendous growth potential. Currently, the fund primarily invests in a few late-stage companies, including fintech companies Airwallex and Stripe, as well as AI firms like Databricks, acquiring equity through primary market or licensed secondary market transactions.