Robinhood Ventures Fund II just listed on the NYSE to give everyday investors access to private-market companies before an IPO. One of those companies is us. If you're curious what that means for your patients, your team, or your contract with us, this is a quick read.
Opalite Health joins the Robinhood Ventures Fund II portfolio
Robinhood Ventures Fund II (NYSE: RVII) has invested in Opalite Health. We are now part of the RVII portfolio, and we are glad to share the news with the clinicians, administrators, and health systems who work with us.
The pairing makes sense once you look at what each side is trying to do. Our work starts from a simple belief: language should never stand between a patient and the care they need. RVII operates from a parallel conviction in a different arena, that access to venture capital and the wealth it can create should not be reserved for a narrow few.
Both missions come down to the same thing. They widen the door for people who have historically been kept outside it.
For us, that means giving patients with limited English proficiency a way to understand and be understood during a medical encounter. For RVII, it means opening private-market investing to a far broader base. The investment brings those two efforts into the same room.
What Robinhood Ventures Fund II is
Robinhood Ventures Fund II is a closed-end Business Development Company, or BDC, governed under the Investment Company Act of 1940. It is managed by Robinhood Ventures, an SEC-registered investment adviser and a subsidiary of Robinhood Markets.
The structure is what makes it interesting for everyday investors. Instead of waiting for a startup to go public, retail investors can buy shares in a diversified portfolio of private companies through a single NYSE listing. The ticker is RVII on Robinhood. The IPO is expected on August 13, 2026, priced at $25.00 per share, with the share request window open through August 12, 2026. At IPO, the fund is set to hold roughly 80 private companies.
Here is how the fund's fees and disclosures are structured:
| Item | Terms |
|---|---|
| Management fee | 2% |
| Incentive fee | 20% on realized gains |
| Holdings disclosure | Quarterly |
"Retail investors no longer have to wait until a company's IPO to be part of an early growth journey."
Sarah Pinto, Head of Robinhood Ventures
Inside the portfolio
The fund's thesis is narrow by design. RVII invests primarily in Y Combinator-backed companies and businesses founded by YC alumni. Opalite Health is a Y Combinator-backed company from the W26 batch, so we fit squarely within that mandate.
As of the July 15, 2026 snapshot, the fund's holdings broke down across sectors like this:
| Sector | Allocation |
|---|---|
| Technology | 64.3% |
| Industrials | 9.0% |
| Financial services | 7.8% |
| Cash and equivalents | 7.4% |
| Healthcare | 6.7% |
| Consumer cyclical | 2.2% |
| Energy | 1.1% |
| Communication services | 1.1% |
Opalite Health on Robinhood sits inside that Healthcare allocation at a 1.12% position. That is roughly in line with how the fund is built, since most holdings land near 1% of the fund each. No single company dominates, which is the point of a diversified BDC. It also means our slice of the portfolio reflects a deliberate bet on healthcare access, not a passing interest.
Why language access in healthcare
Consider a patient who describes chest pain through a family member doing the translating. Details get softened. A medication name gets garbled. The wrong prescription goes home, and the patient returns sicker than before. For patients with limited English proficiency, that scenario is not rare. Language gaps contribute to delayed diagnoses, medication errors, weak informed consent, and worse outcomes.
Opalite was built for that gap. The suite covers real-time AI medical interpretation across more than 150 languages and dialects, multilingual AI scribing, and medical document translation. It is purpose-built for clinical settings, trained on millions of minutes of real clinical conversations. It is HIPAA compliant and integrated with Epic, Cerner, and other major EHRs.
The accuracy question matters most here. In an independent study conducted with Johns Hopkins Medicine, Opalite produced more than 90% fewer major and critical errors compared with certified medical interpreters (validation study).
The founders
Cathleen Kuo, MD, our co-founder and CEO, is a physician. When she was 16, her mother was placed on the wrong medication after her symptoms were mistranslated, then returned to the hospital. That failure shaped why she built Opalite.
Alexander Mehregan, co-founder and CTO, previously worked at Apple on Apple Intelligence and the next generation of Siri. He leads product engineering and AI infrastructure.
What changes for Opalite Health customers
The short answer is nothing. Opalite remains an independent company, and the tools you rely on every day stay exactly where they are. Your EHR integrations and every service commitment in your contract carry on unchanged. This investment does not alter who runs Opalite or how we support you.
What it does is add a backer. Robinhood Ventures now joins our existing investors, including Y Combinator, which supported us through the W26 batch.
The practical benefit shows up in our roadmap. With more capital behind us, we can move faster on the work customers ask for most:
- Expanding language coverage for patients with limited English proficiency
- Deepening integrations with Epic, Cerner, and other systems
- Scaling to more health systems that need reliable language access
There is also a public dimension to this. As of August 13, 2026, anyone who believes a patient should be understood by their care team can own a piece of that mission through RVII.
The fine print
A quick word on what this post is and is not. This is a company announcement. It is not investment advice, and it is not an offer to sell securities. Opalite Health is not selling shares to the public.
RVII is a fund managed by Robinhood Ventures that holds a stake in Opalite as part of a portfolio of roughly 80 companies total. Early-stage investing carries risk. Before requesting shares, review the fund's prospectus and risk disclosures on robinhood.com.
Thank you to the Robinhood Ventures team. To our customers and patients: this is for you.
Final thoughts on Opalite Health joining the RVII portfolio
The investment does not change what you rely on day to day, but it does change how fast we can move on the things you ask for most. Better language coverage, deeper EHR integrations, and more health systems served are all on the roadmap. Book a demo to see how Opalite fits your clinical workflows and language-access program.