Robinhood Ventures Fund I invested 30 million USD in Erebor Bank preferred shares

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 nationally chartered bank in the United States focused on the innovation economy, serving sectors including defense, robotics, artificial intelligence, and hard technology.

The bank obtained a national bank charter and federal deposit insurance from the Office of the Comptroller of the Currency (OCC) in February 2026, with deposits exceeding $7 billion. Erebor was founded in 2025 by Palmer Luckey and others, and is supported by institutions such as 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 private equity exposure through investments in private companies.