Venture Global Shares Fall 63% as Robinhood Private Access Fund Debuts
Venture Global shares have fallen 63% since their IPO, exemplifying recent public-market flops by growth firms. Investors are shifting to new publicly traded private company access funds—like the upcoming Robinhood Venture Fund I—which carry management fees above 2% for stakes in startups such as SpaceX and OpenAI.
1. Venture Global’s IPO Underperformance
Venture Global went public with high expectations but has since seen its share price slump by 63%. This decline mirrors other recent IPO disappointments, as fast-growing firms like Figma also trade far below their debut levels, prompting investor wariness about public offerings of high-growth companies.
2. Surge in Publicly Traded Private Access Funds
To fill the gap for retail investors, several new funds have launched or are preparing listings—Destiny Tech 100, Fundrise’s illiquid venture vehicle, and Robinhood Venture Fund I among them. These vehicles offer stakes in private names such as SpaceX, OpenAI, Stripe and Anthropic but typically charge management fees exceeding 2%, reflecting higher costs and liquidity constraints.