Key Highlights
- Robinhood Ventures Fund I invested approximately $30 million in preferred stock of Whatnot as part of its $545 million Series G funding round.
- The financing values Whatnot at $20 billion, with the transaction closing on August 5, 2026.
- Robinhood said the investment gives RVI shareholders exposure to a leading private company while highlighting Whatnot’s growing live-commerce ecosystem.
Robinhood Ventures Fund I, a publicly traded venture capital vehicle by Robinhood, announced on Friday that it has purchased approximately $30 million of preferred stock in Whatnot. The investment forms part of Whatnot’s $545 million Series G financing round, which values the company at $20 billion with the transaction closing on August 5, 2026.
According to the official announcement, the venture capital made the purchase as part of the larger Series G round.
In a statement accompanying the announcement, Sarah Pinto, president of Robinhood Ventures Fund I, said Whatnot is reimagining the live shopping experience for consumers and changing the way people buy and sell online. She added that the firm views Whatnot as a frontier private company to which retail investors should have exposure and that the investment provides that access to RVI shareholders.
The announcement also gives details on both the platforms, as Whatnot describes itself as the largest live shopping platform in its operating regions, covering categories such as trading cards, comic books, fashion, beauty, and electronics. Robinhood Ventures Fund I represents the first fund from Robinhood Ventures and is structured to provide shareholders with exposure to private-market investments.
Context from recent financial results
The investment follows Robinhood Markets’ second-quarter 2026 earnings results, released on July 29. Robinhood reported total net revenues of $1.31 billion for the quarter ended June 30, an increase of 32 percent from the same period a year earlier. Net income reached $573 million, up 48 percent year-over-year, and diluted earnings per share stood at $0.62, also up 48 percent.
The earnings release noted that the EPS figure included $0.14, or roughly $129 million, of gains primarily tied to the deconsolidation of Robinhood Ventures Fund I after the sale of part of Robinhood’s stake in the fund. Excluding that item, underlying EPS was near $0.48. Adjusted EBITDA rose 35 percent year-over-year to $741 million.
Transaction-based revenues increased 44 percent to $776 million. Crypto transaction revenue, however, declined 38 percent year-over-year to $100 million, making it the weakest segment in the results. Total operating expenses rose 33 percent to $734 million. The company attributed part of the increase to marketing, one-time restructuring charges linked to a reduction in force announced in June, and costs associated with new businesses.
Closing summary of the deal and financial background
Robinhood Ventures Fund I’s $30 million investment in Whatnot forms part of a larger $545 million financing round completed in early August. The announcement provides further detail on the fund’s deployment of capital into private companies following its public listing earlier in the year and the deconsolidation gains recorded in Robinhood Markets’ second-quarter results.
Whatnot continues operations as a live shopping platform, while Robinhood Markets reported mixed segment performance in its most recent quarterly figures, with overall revenue growth offset by a decline in crypto transaction revenue.
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