Robinhood Ventures Fund I will invest in Stripe and ElevenLabs

Robinhood Ventures Fund I, Robinhood's first publicly traded closed-end fund, has invested in payments giant Strip and artificial intelligence audio company ElevenLabs.

Robinhood Ventures Fund 1, trading under ticker RVI, has committed more than $34 million in two deals. The fund acquired approximately $14.6 million of Stripe Global Holdings Class B common stock in secondary market transactions on March 9.

Three days later, RVI issued nearly $20 million in ElevenLabs' Series D preferred stock in a first-tier financing round.

“We are thrilled to add Stripe and ElevenLabs to Robinhood Ventures Fund I and proud to provide retail investors with access to these frontier companies,” said Sara Pinto, president of Robinhood Ventures Fund I.

The investments reflect RVI's dual focus on established fintech infrastructure and emerging artificial intelligence capabilities.

In the year Founded in 2010, Stripe provides programmable financial services to companies ranging from early-stage startups to publicly traded corporations, with headquarters in South San Francisco and Dublin.

In the year ElevenLabs, founded in 2022 and headquartered in London, develops AI-powered voice and speech integration technology to serve millions of users with thousands of enterprise customers.

RVI began trading on the NYSE on March 6, establishing itself as a new way for ordinary investors to gain exposure to high-growth private technology companies.

The closed-end fund structure allows shares to trade on public exchanges, while the underlying portfolio is focused on pre-IPO ventures. This approach sidesteps the traditional barriers to private market participation that have historically limited private market participation for accredited investors and institutional investors.