The fund, called Robinhood Ventures Fund II (RVII), plans to offer up to 8 million shares at $25 each. The fund’s mandate is focused squarely on early- and growth-stage private companies, with a particular emphasis on current or former Y Combinator participants. AdvertisementRVII plans to initially hold more than 80 private companies in its portfolio. The predecessor fund, Robinhood Ventures Fund I (RVI), is already trading and accessible on the platform. A 2% management fee on a $200 million fund generates $4 million annually for the manager regardless of performance.