Robinhood’s new venture fund just snapped up stakes in Stripe and ElevenLabs
Robinhood Ventures Fund I has made its first disclosed investments, acquiring stakes in Stripe and ElevenLabs.Summary
Robinhood’s newly launched venture fund, Robinhood Ventures Fund I (RVI), has announced its first disclosed investments, purchasing approximately $14.6 million in Stripe shares and $20 million in ElevenLabs preferred stock during March transactions. RVI is a closed-end fund trading on the NYSE that aims to provide retail investors, who typically lack access, exposure to private companies before they go public. The investment in Stripe was a secondary transaction, while the investment in ElevenLabs, an AI voice technology firm, was part of a primary funding round. This expands the fund's portfolio, which already includes Databricks and Revolut, signaling Robinhood's focus on fintech and AI sectors. Unlike traditional venture funds, RVI does not require investors to be accredited and charges no performance fees.
(Source：CoinDesk)