Robinhood Fund Invests $34M in Stripe and ElevenLabs

Robinhood Ventures Fund I, the publicly traded closed-end fund launched by Robinhood Markets, announced investments totaling more than $34 million in two prominent private technology companies, Stripe and ElevenLabs, in transactions completed earlier this month.

The fund, which trades on the New York Stock Exchange under the ticker RVI, purchased approximately 14.6 million worth of Class B common stock in Stripe Global Holdings through secondary market transactions on March 9. Three days later, on March 12, it invested nearly 20 million in ElevenLabs by acquiring Series D preferred stock as part of a primary financing round. These moves mark some of the fund's initial disclosed commitments since it began trading on March 6, following an initial public offering that raised about 658.4 million at $25 per share.

"We're excited to add Stripe and ElevenLabs to Robinhood Ventures Fund I and are proud to offer retail investors access to these frontier companies," said Sarah Pinto, president of the fund. "They are helping shape the future of fintech and AI, and reflect RVI's focus on investing in innovative companies operating at the forefront of their industries."