Robinhood’s recently launched venture fund (HOOD) added stakes in Stripe and ElevenLabs, marking its first disclosed investments since it began trading earlier this month.
Robinhood Ventures Fund I (RVI), a closed-end fund designed to give retail investors exposure to private companies, said it purchased approximately $14.6 million in Stripe stock and $20 million in ElevenLabs preferred stock in transactions completed in March.
The fund began trading on the New York Stock Exchange on March 6, as part of Robinhood’s broader push to open private markets to mainstream investors. Fund shares can be bought and sold like traditional stocks, offering access to companies that are typically limited to institutional and wealthy investors.
Founded in 2010, Stripe offers financial and payments software used by businesses ranging from startups to large enterprises. The investment was made through a secondary transaction, meaning Robinhood purchased shares from existing holders rather than directly from the company.
ElevenLabs, a London-based artificial intelligence company founded in 2022, focuses on voice and audio technology. Its tools enable businesses and developers to generate speech, create conversational agents, and create multimedia content in dozens of languages. Robinhood’s investment was part of a primary funding round, meaning the capital goes directly to the company.
The additions expand a portfolio that already includes private companies such as Databricks, Revolut, Ramp and Oura, with more investments expected over time.
Robinhood has positioned the fund as a response to a shift in capital markets. The number of publicly traded companies in the United States has declined over the past two decades, while private markets have grown to roughly $10 trillion, limiting access for retail investors.
“For decades, wealthy individuals and institutions have invested in private companies, while retail investors have been excluded,” CEO Vlad Tenev previously said.
Unlike traditional hedge funds, Robinhood’s vehicle does not require investors to be accredited and does not charge performance fees, lowering the barrier to entry.
The strategy follows previous efforts by the company to offer private market exposure, including tokenized shares in high-profile companies for users in Europe, a move that generated scrutiny over how those products were structured.
With the latest investments, Robinhood indicates that it plans to continue building a portfolio of private companies in financial technology and artificial intelligence, two sectors that continue to attract strong investor interest ahead of potential public listings.
HOOD shares rose 2% on Tuesday trading at $76.78. The RVI was lower by 0.4%.
