Jim Cramer is one of the most watched market commentators on television, and he doesn’t shy away from sharing his views, no matter how much criticism he faces.
A well-known figure on Wall Street, he is a former hedge fund manager who gained widespread popularity for hosting the shows “Mad Money” and “Squawk on the Street” on CNBC.
Whether it’s equities, commodities, or novel assets like cryptocurrencies, Cramer frequently talks about major developments in the global markets.
So, when there is a new initial public offering (IPO) in the U.S. market, he can’t resist commenting.
Robinhood Markets (Nasdaq: HOOD) is a Menlo Park, California-based e-trading platform that is best known for crypto and tokenized stock offerings.
Founded by Stanford graduates Vladimir Tenev and Baiju Bhatt in 2013, the company went public in 2021. In September last year, it also made it to the S&P 500 index.
Robinhood Ventures, a wholly owned subsidiary of Robinhood Markets, is an investment adviser registered with the Securities and Exchange Commission (SEC).
One of its fund offerings is Robinhood Ventures Fund I (RVI). It is a closed-end fund that aims to offer retail investors exposure to a basket of private companies. The composition of the fund is:
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Databricks, a data analytics and AI firm: 23.24%
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Revolut, a fintech firm: 14.30%
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Mercor, an AI-based hiring firm: 14.23%
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Airwallex, a fintech firm: 7.11%
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Boom Supersonic, an aerospace company: 7.11%
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Oura, a smart ring maker: 7.11%
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Ramp, a fintech firm: 7.11%
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Cash and cash equivalents: 19.78%
On March 6, Robinhood Ventures Fund I announced the pricing of its IPO of 12,615,608 common shares at $25 apiece. The goal is to raise $658.4 million, or up to $705.7 million if the underwriters exercise their option to buy additional shares.
Robinhood Ventures Fund I is offering all the shares, which are expected to begin trading on the New York Stock Exchange (NYSE) under the symbol “RVI” on March 6 and close on March 9.
RVI has granted the underwriter a 30-day option to purchase up to an additional 1,892,341 common shares. Goldman Sachs & Co. LLC is acting as sole bookrunner for the offering.
Reacting to the latest IPO, Jim Cramer wrote only one word on X on March 6: “novelty.”
Cramer’s response is noteworthy because Robinhood Ventures Fund I is indeed a novel fund because it opens venture capital-style investing to retail investors through a publicly traded instrument.
Traditionally, only venture capital funds, large financial institutions, and high net-worth individuals (HNIs) invest in private companies. RVI aims to disrupt the tradition and allow even ordinary retail investors to gain exposure to private companies by purchasing shares of the fund.
Related: Robinhood announces launch of testnet for its brand new chain
This story was originally published by TheStreet on Mar 6, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
