Robinhood's RVI Invests $30 Million in Erebor Bank Preferred Shares

October 21 — According to FXNewsGroup, Robinhood Ventures Fund I (NYSE: RVI) announced that it has invested $30 million to purchase preferred shares of Erebor Bank, National Association in the United States. Erebor is a U.S. nationally chartered bank serving the innovation economy, with coverage spanning defense, robotics, artificial intelligence, and hard tech industries. The bank obtained its national bank charter and federal deposit insurance from the U.S. Office of the Comptroller of the Currency (OCC) in February 2026, and its deposits have now exceeded $7 billion.

Erebor was founded in 2025, co-founded by Palmer Luckey and others, and is backed by institutions including Valor Equity Partners, Lux Capital, and 8VC. RVI is the first fund under Robinhood Ventures, listed on the New York Stock Exchange in March 2026, primarily providing investors with exposure to private company equity through investments in non-public companies.