Revolut will expand into private market investments, offering a venture-capital style option to select customers via Revolut Ventures starting next year.

The venture is being built in partnership with Carne Group, Europe’s largest third-party fund manager, with eligibility criteria disclosed as selective but not public.

Revolut Ventures will appear in the Revolut app alongside existing options like stocks, ETFs, money market funds, bonds, and private market funds, though private markets carry higher risk and lower liquidity.

Robinhood’s fund reportedly raised more than $658 million at launch, with early performance showing price movements relative to NAV.

Risks highlighted include illiquidity, uncertain valuations, potential discounts or premiums to NAV, and tokens not always representing real shares—as seen in OpenAI token cases.

The move comes as private-company lifecycles lengthen; median time to IPO rose from 6.9 years in 2014 to 11 years in 2025, with U.S. listed companies shrinking from about 7,000 in 2000 to 3,900 in 2025.

Revolut notes that much value is created before a company goes public and aims to bridge retail investors with private-market opportunities as IPO timing lengthens.

Revolut Ventures seeks to connect retail investors to private-market opportunities during the longer window to IPO.

Revolut is pursuing a dual listing in London and New York, with no date set, following a July valuation of around $115 billion.

Other players include SoFi, Kraken, and OpenAI-linked private-market offerings; Revolut’s entry adds competition and potential new fee income.

The initiative argues it removes barriers that have reserved private-market investments for institutions and ultra-high-net-worth individuals, highlighting value creation pre-IPO.

Details remain unclear on initial rollout, eligibility, available companies, and pricing for Revolut Ventures.