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

On October 21, according to FX News Group, Robinhood Ventures Fund I (NYSE: RVI) has invested $30 million to purchase preferred shares of Erebor Bank.

Erebor Bank is a nationally chartered bank in the United States, primarily serving innovative companies in sectors such as defense, robotics, AI, and hard tech. The bank received its national bank charter from the US Office of the Comptroller of the Currency (OCC) and FDIC deposit insurance in February 2026, and currently holds deposits exceeding $7 billion. Founded in 2025 by Palmer Luckey, Owen Rapaport, Jacob Hirshman, Aaron Pelz, and Trevor Capozza, Erebor Bank currently includes investors such as Valor Equity Partners, Lux Capital, and 8VC.

Robinhood Ventures Fund I is the inaugural fund launched by Robinhood Ventures, which began trading on the New York Stock Exchange on March 6, 2026, under the ticker symbol RVI, primarily offering investors concentrated portfolio exposure centered on private companies.