Robinhood applies to set up "Employee Fund" for co-investing in stocks, real estate, and other assets

Odaily Odaily reports that Robinhood has filed an application with the SEC to establish the "Robinhood Employee Fund, LP," allowing employees to pool their capital together and invest these pooled funds in stocks, real estate, and other assets.

Typically, investment funds face a stringent set of regulatory rules designed to protect the general public from fraud. However, Robinhood is currently requesting that the SEC allow them to bypass the vast majority of these rules.