Robinhood Venture Fund Buys $75 Million in OpenAI Shares in One of Its Largest Investments Ever
Robinhood Ventures Fund I (RVI) has purchased approximately $75 million worth of common stock in OpenAI, the group said Wednesday.
The fund, Robinhood's first publicly traded closed-end venture fund, focuses on giving private investors exposure to high-impact companies without traditional barriers like accreditation or minimum investment requirements.
The addition strengthens its portfolio of private companies and highlights its strategy of targeting transformative industries such as artificial intelligence.
The acquisition was completed on April 17 and makes OpenAI, the research lab behind ChatGPT, one of the largest holdings in RVI's portfolio, which recently received an $852 billion valuation.
The fund's president, Sara Pinto, called the AI giant “one of the frontier artificial intelligence companies” and said the investment “highlights our core mission of giving everyday investors access to what we believe are transformative companies that will shape the future.”
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