Robinhood Ventures Fund I bought $30 million of Erebor Bank preferred stock in a deal that closed Sept. 17, BlockBeats reported on Oct. 21, citing an official announcement.
Erebor’s banking profile
Erebor is described as a U.S. nationally chartered bank focused on the innovation economy and serving defense, robotics, AI and other hard-tech sectors. BlockBeats said it received an OCC national bank charter and FDIC deposit insurance in February 2026, after which deposits grew to more than $7 billion.
Robinhood fund
Robinhood Ventures Fund I, referred to as RVI, was described as Robinhood Ventures’ first fund and listed on the New York Stock Exchange on March 6, 2026. The report said it invests mainly in private companies to give retail investors private-market exposure, without accredited-investor or minimum-investment requirements, and charges a management fee but no performance fee.
The flash did not link the official announcement or provide terms for the preferred stock purchase beyond the amount and closing date.